401k Max 2024 And 2024 Difference

401k Max 2024 And 2024 Difference. 401 (k) employee contribution limits increase in 2024 to $23,000 from $22,500 in 2023. The contribution limit will increase from $22,500 in 2023 to $23,000.

For 2024, the compensation limit (which is the amount of your income that’s used to figure out 401(k) contributions and matches) is limited to $345,000. For 2024, the 401(k) annual contribution limit is $23,000, up from $22,500 in 2023.