401 K Contribution Limits 2024 Catch Up. For 2024, the 401(k) annual contribution limit is $23,000, up from $22,500 in 2023. The 401 (k) compensation limit is $345,000.

For 2024, the 401 (k) limit for employee salary deferrals is $23,000, which is above the 2023 401 (k) limit of $22,500. The contribution limit on individual retirement accounts will increase by $500 in 2024, from $6,500 to $7,000.