What Is The 401k Limit For 2024. The 2024 limit on 401(k) contributions is $23,000, or $30,500 for people 50 and older. 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 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. On november 1, 2023, the internal revenue service announced that the amount individuals can contribute to their 401 (k) plans.
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