401k Limits 2024. For 2024, the irs limits the amount of compensation eligible for 401(k) contributions to $345,000. For 2024, the 401(k) annual contribution limit is $23,000, up from $22,500 in 2023.

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. The 2024 401(k) contribution limit is $500 higher than this year’s $22,500 max, which reflected a major increase from the 2022 limit of $20,500.