Annual 401k Contribution Limit 2024. 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. For 2024, the compensation limit (which is the amount of your income that’s used to figure out 401(k) contributions and matches) is limited to $345,000.
The 2024 401(k) individual contribution limit is $23,000, up from $22,500 in 2023. Here’s how the 401 (k) plan limits will change in 2024:
