401 K Plan Contribution Limits 2024 Employer Match

401 K Plan Contribution Limits 2024 Employer Match. The irs limits how much employees and employers can contribute to a 401(k) each year. Employees can invest more money into 401 (k) plans in 2024, with contribution limits increasing from 2023’s $22,500 to $23,000 for 2024.

For 2024, the 401 (k) limit for employee salary deferrals is $23,000, which is above the 2023 401 (k) limit of $22,500. If your plan provides for matching contributions, you must follow the plan’s match formula.