2024 Catch Up Contribution 401k Over 50. The 401(k) contribution limit for 2023 is $22,500 for employee contributions and $66,000 for combined employee and employer contributions. The 401 (k) compensation limit is $345,000.
Of note, the 2024 pretax limit that applies to elective deferrals to irc section 401 (k), 403 (b) and 457 (b) plans increased from $22,500 to $23,000. The 2024 contribution limit for 401(k) plans is $23,000, up from $22,500 in 2023.
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