401k 2024 Max Contribution Rate. For 2024, the 401(k) limit for employee salary deferrals is $23,000, which is above the 2023 401(k) limit of $22,500. The total overall 401 (k) contribution limit for 2024, which includes employer matching contributions and nonelective contributions, is $69,000.
The 2024 401(k) contribution limit is $500 higher than this year’s $22,500 max, which reflected a major increase from the 2022 limit of $20,500. The 2024 contribution limit for 401(k) plans is $23,000, up from $22,500 in 2023.