401k Limit 2024. The limit on total employer and employee contributions for 2023 was $66,000 ($73,500 with. 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.

For 2024, the irs limits the amount of compensation eligible for 401 (k) contributions to $345,000. Workers who contribute to a 401 (k), 403 (b), most 457 plans and the federal government’s thrift savings plan can contribute up.