Libbi Rozele

401k And Roth Ira Contribution Limits 2024. The annual contribution limits are much smaller for roth ira accounts than for 401(k)s. For 2024, the ira contribution limits are $7,000 for those under age 50 and $8,000 for those age 50 or older.

Employees age 50 and older can contribute an additional $7,500 for a total of $31,000. 401 (k) limit increases to $23,500 for 2025, ira limit remains $7,000, internal revenue service, november 1, 2024.