2024 401k Contribution Limits Catch Up. The irs this week announced it was raising the 401 (k) contribution limit to $23,000, up from $22,500 currently. This means that your total 401(k) contribution limit for 2024 is $30,500.

Key takeaways the irs sets the maximum that you and your employer can contribute to your 401(k) each year. Total contributions cannot exceed 100% of an employee’s annual compensation.