401k Contribution Limits 2024 Irs. Key takeaways the irs sets the maximum that you and your employer can contribute to your 401(k) each year. When most people think of 401(k) contribution limits, they are thinking of the elective deferral limit, which is $23,000 for 2024 ($23,500.

For 2025, the annual employee contribution limit for 401(k) plans is set to increase from $23,000 in 2024 to a record high of $23,500. The internal revenue service announced today that the amount individuals can contribute to their.