Irs Limit For 401k 2024. If you are age 50 or over by december 31, the catch.  — limits for 401(k) plan contributions increased to $23,000 for 2024, with a limit of $30,500 for those age 50 and over.

 — section 415 of the internal revenue code (code) provides for dollar limitations on benefits and contributions under qualified retirement plans.  — employees can invest more money into 401(k) plans in 2024, with contribution limits increasing from $22,500 in 2023 to $23,000 in 2024.