2024 Max 401k Contribution With Employer Benefit

2024 Max 401k Contribution With Employer Benefit. Workplace retirement plan contribution limits for 2024. The contribution limit for simple 401 (k)s is $16,000 (up to $19,500 if you're 50 or older).

In 2024, the irs limits total 401 (k) contributions to $69,000 or 100% of the employee’s compensation, whichever is less. For 2024, the most an employee under age 50 can contribute to a 401(k) is $23,000.