2024 2024 Limit. The limit on annual contributions to an ira increased to $7,000, up from $6,500, the irs said. The 401 (k) retirement maximum contribution limit has been raised from $22,500 to $23,000 for elective deferrals in 2024, with the maximum contribution increasing from $66,000 to.

The ira contribution limits for 2024 are $7,000 for those under age 50, and $8,000 for those age 50 or older. The ira catch‑up contribution limit for individuals aged 50 and.