Ira Limits 2024 Catch Up Application Form. [2] 401 (k) and ira limit increases for 2023. Employees can invest more money into 401 (k) plans in 2024, with contribution limits increasing from 2023’s $22,500 to $23,000 for 2024.

$7,000, or $8,000 if you’re 50 or older. 401(k) accounts have had their contribution limit increased from $22,500 to $23,000 and ira account contribution limits have increased from $6,500 to $7,000.