401k Limits 2024 50 Year Rule. This new retirement tax law went into effect in 2024. The annual contributions limit for traditional iras and roth iras was $7,000 for 2024, rising from $6,500 for 2023.

Employees can contribute up to $23,000 to their 401(k) plan for 2024 vs. The irs sets the maximum that you and your employer can contribute to your 401(k) each year.