Irs 401k Employer Contribution Limits 2024. The internal revenue service sets the maximum amount you and your employer can contribute to your 401 (k), and that number increases in 2024. The total of all employee and employer contributions per employer will increase from $66,000 in 2023 to $69,000 in 2024 for those under 50.
The 401 (k) contribution limit for 2024 is $23,000 for employee contributions, and $69,000 for the combined employee and employer contributions. Contribution limits for 401(k)s, 403(b)s, most 457 plans, thrift savings plans (tsps), and other qualified retirement plans rise were $23,000 for 2024, rising from $22,500 for 2023.