2024 401k Limits And Catch Up Limits 2024. The 401 (k) compensation limit is $345,000. The irs announced the changes to the dollar limits on benefits and contributions under qualified retirement plans, as well as other items, for tax year 2024.
The 2024 contribution limit for 401(k) plans is $23,000, up from $22,500 in 2023. The contribution limit on individual retirement accounts will increase by $500 in 2024, from $6,500 to $7,000.