Irs 401k Salary Limits 2024. Contribution limits tend to increase during years where inflation rates also climb. In 2024, it's $69,000 ($66,000 in 2023) or $76,500 for employees 50 and older ($73,500 in 2023).

The 401 (k) contribution limits for 2024 are $23,000 for individuals under 50, and $30,500 for those 50 and older. The annual compensation limit (applicable to many retirement plans) is increased to $345,000, up from $330,000.