401 Contribution Limits 2024. This year the irs announced there will be an increase to the maximum employee 401 (k) contribution limit for 2024, increasing it to $23,000, a $500 increase. Since the inflation rate is relatively high, the 401 (k) contribution limit’s bump from 2023 to 2024 is larger than what we’re used to seeing.
As of 2023, individual employees have a 401 (k) contribution limit of $22,500, allowing them to contribute this amount annually to their 401 (k) account on a. 2024 max 401k contribution limits catch up limit those 50 and older can contribute an.