401k Limit 2024 Employer Contribution Limit. The 401 (k) 2024 employee contribution limit is $23,000, which is an increase of $500 from the previous year. Simple 401 (k) plan contributions max out at $16,000 for the 2024 tax year.
Many employers offer matching contributions, giving you “free money” for retirement. In 2023, total 401 (k) contributions are capped at $66,000 or 100% of the employee’s compensation, whichever is less.
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