2024 401k Maximum Employer Match . Employees can invest more money into 401 (k) plans in 2024, with contribution limits increasing from 2023โs $22,500 to $23,000 for 2024. The limit for combined contributions made by employers and employees cannot exceed the lesser.
The contribution limit for simple 401 (k)s is $16,000 (up to $19,500 if you’re 50 or older). The 401 (k) compensation limit is $345,000.
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What 401(k) Employer Match Is and How It Works in 2024 , If you contribute, say, $23,000 toward your 401 (k) in 2024 and your employer adds $5,000, youโre still within the irs limits.
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