2024 401k Contributions Maximum. The 2024 contribution limit for 401 (k) plans is $23,000, up from $22,500 in 2023. For 2024, you can contribute up to $7,000 to a roth or traditional ira.

The contribution limit for simple 401 (k)s is $16,000 (up to $19,500 if you’re 50 or older). There’s a big difference in the maximum annual contributions allowed in a 401(k) or an ira, regardless of whether it is a roth or a traditional account.