401k 2024 Limits Catch Up. The internal revenue service (irs) raised the annual contribution limits for 2024 to $23,000, which amounts to a cost of living adjustment and is an increase from $22,500 in 2023. The limit on employer and employee contributions is $69,000.

In 2024, the combined contribution limit is increasing to $69,000, up from $66,000 in 2023. For 2024, the maximum you can contribute from your paycheck to a 401 (k) is $23,000.