401k Max Contribution 2024 For People Over 50. The contribution limit for individual retirement accounts (iras) for the 2024 tax year is $7,000. You can contribute to more than one.

 — the total maximum allowable contribution to a defined contribution plan (including both employee and employer contributions) is expected to rise by $2,000.  — the basic employee contribution limit for 2024 is $23,000 ($22,500 for 2023).