What Is The Maximum 401 Contribution 2024. The 2024 contribution limit for 401(k) plans is $23,000, up from $22,500 in 2023. The maximum contribution amount, on the other hand, refers to the total amount of funds both the employee and employer can contribute during the year.

In 2024, both the traditional 401 (k) and roth 401 (k) have a contribution limit of $23,000, while simple 401 (k) has a limit of $16,000. Here’s how the 401 (k) plan limits will change in 2024: