401k 2024 Limits Increase Over Time. For 2024, the 401 (k) limit for employee salary deferrals is $23,000, which is above the 2023 401 (k) limit of $22,500. This amount is an increase of $500.

Those 50 and older can contribute an additional $7,500. In 2024, the irs limits the amount of compensation eligible for 401(k) contributions to $345,000.