What Is The 401k Limit 2024

What Is The 401k Limit 2024. Employers can only use the first $345,000 of compensation to determine your 401 (k) match. The contribution limits for individual retirement accounts (iras) also increases from $6,500 to $7,000.

 — in 2024, the irs has increased the standard employee contribution limit for 401 (k) plans to $23,000. Employers can only use the first $345,000 of compensation to determine your 401 (k) match.