401k Contribution Limits 2024 Employer And Employee

401k Contribution Limits 2024 Employer And Employee. For 2024, the limit on employee and employer contributions is $69,000 or 100% of employee compensation, whichever is lower (up from $66,000 for 2023). The limit for employee contributions to a 401 (k) in 2024 is $23,000 for those under 50.

The contribution limit on individual retirement accounts will increase by $500 in 2024, from $6,500 to $7,000. More people will be able to make contributions to roth ira accounts, too.