Irs 401k Employee Contribution Limits 2024. Employees can invest more money into 401(k) plans in 2024, with contribution limits increasing from 2023’s $22,500 to $23,000 for 2024. The basic employee contribution limit for 2024 is $23,000 ($22,500 for 2023).

To maximize your retirement savings, it’s advisable to contribute as close to this limit as possible. That’s an increase from the 2023 limit of $330,000.