401k Limit 2024 50 Percent. The 2024 401(k) individual contribution limit is $23,000, up from $22,500 in 2023. One of the most compelling reasons to contribute to your 401k is the employer match.

Employers can only use the first $345,000 of compensation to determine your 401(k) match. In 2024, the irs raised the limit for annual ira contributions to $23,000 for people under 50 and $30,500 for those 50 and older, a $500 increase from 2023.