401k 2024 Maximum Contribution With Catch Up. The 401(k) compensation limit is $345,000. Starting in 2024, employees can contribute up to $23,000 into their 401(k), 403(b), most 457 plans or the thrift savings plan for federal employees, the irs announced nov.

Total 401(k) plan contributions by an employee and an employer cannot exceed $69,000 in 2024. The catch up contribution is only available to those employees age 50 and older who are trying to “catch up” for retirement in their latter years.