Max 401k Contribution 2024 And Catch Up Date. The 2024 maximum 401k contribution limit will be $23,000, which is a an increase of $500 over the 2023 maximum 401k contribution limit of $22,500 (which had increased a record high $2,000 over the prior year). The limit on combined employee and employer contributions is $69,000, up from $66,000 in 2023.

The internal revenue service (irs) raised the annual contribution limits for 2024 to $23,000, which amounts to a cost of living adjustment and is an increase from $22,500 in 2023. If you are 50 or older, you can defer paying income tax on $30,000 in your 401(k) plan.