401k Contribution Limit Increase 2024. The 2024 401(k) individual contribution limit is $23,000, up from $22,500 in 2023. The 401(k) contribution limit for 2024 is $23,000 for employee contributions, and $69,000 for the combined employee and employer contributions.

For those with a 401(k), 403(b), or 457 plan through an employer, your new maximum contribution limit will go up to $23,000 in 2024. Starting in 2024, individuals under the age of 50 will be able to contribute up to $23,000 annually to their 401 (k) accounts, a significant increase from the previous.