Irs 401k Employer Contribution Limits 2024. The irs sets the maximum that you and your employer can contribute to your 401 (k) each year. Be sure to take advantage of your company’s matching program as well.
The contribution limits for individual retirement accounts (iras) also increases from $6,500 to $7,000. That’s an increase from the 2023 limit of $330,000.
Be Sure To Take Advantage Of Your Company’s Matching Program As Well.
In 2024, the irs limits total 401 (k) contributions to $69,000 or 100% of the employee’s compensation, whichever is less.
Keep In Mind That You Can't Contribute Additional Dollars To A Former Employer.
The irs also imposes a limit on all 401 (k) contributions made during the year.