2024 Max 401k Contribution Employer Limit. The contribution limit on individual retirement accounts will increase by $500 in 2024, from $6,500 to $7,000. For those with a 401(k), 403(b), or 457 plan through an employer, your new maximum contribution limit will go up to $23,000 in 2024.

The contribution limit for simple 401 (k)s is $16,000 (up to $19,500 if you’re 50 or older). The irs released 401(k) and ira contribution limits for 2024.