401k Max Contribution 2024 Employer Contribution Limit. Simple 401(k) plan contributions max out at $16,000 for the 2024 tax year. For 2024, the limit on employee and employer contributions is $69,000 or 100% of employee compensation, whichever is lower (up from $66,000 for 2023).
The 2024 401(k) individual contribution limit is $23,000, up from $22,500 in 2023. Your annual contribution is capped at $23,000 in 2024.
