2024 401k Max Limit. For 2024, the 401 (k) contribution limit for employees is $23,000, or $30,500 if you are age 50 or older. Forecasts that 2024 internal revenue service contribution limits for 401(k) and other defined contribution plans will…

Of note, the 2024 pretax limit that applies to elective deferrals to irc section 401 (k), 403 (b) and 457 (b) plans increased from $22,500 to $23,000. Employers can only use the first $345,000 of compensation to determine your 401 (k) match.