2024 401 K Catch Up Contribution Limit. Those 50 and older can contribute an additional. The 2022 contribution limit for a simple ira or 401 (k), which are retirement plans designed for small businesses with 100 or fewer employees, is $14,000 ($15,500 for 2023).

Key takeaways the irs sets the maximum that you and your employer can contribute to your 401(k) each year. In 2024, the contribution limit for a roth 401 (k) is $23,000, plus an additional contribution of $7,500 if you are age 50 or older.