2024 401k Limits. 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. 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.

See the limits for traditional 401(k)s, roth 401(k)s, employer contributions, and profit sharing. In 2024, the 401 (k) irs contribution limit for employee contributions is $23,000.