2024 401k Limits Contribution Increase. If you're 60, 61, 62, or 63, you can contribute an additional $11,250 instead of $7,500. For 2025, employees under 50 years old can.

You can soon save more money for retirement, thanks to an increase in ira and 401(k) contribution limits for 2024. The irs said on friday it increased the annual employee deferral limit to $23,500, from.