Compensation Limit 401k 2024. The 2024 401 (k) contribution limit is $23,000, a $500 increase from 2023’s limit. Let’s say you make $500,000 in 2024 and your company offers a 4% match on your 401(k) contributions.
The contribution limits for individual retirement accounts (iras) also increases from $6,500 to $7,000. Let’s say you make $500,000 in 2024 and your company offers a 4% match on your 401(k) contributions.