401k 2024 Tax Year Limit

401k 2024 Tax Year Limit. For 2024, the 401(k) limit for employee salary deferrals is $23,000, which is above the 2023 401(k) limit of $22,500. Most people don't max out their 401(k).

Employees could contribute up to $22,500 to their 401(k) retirement savings plans for tax year 2023. 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.