Maximum Compensation For 401k 2024. $19,500 in 2020 and 2021 and $19,000 in 2019), plus $7,500 in 2023;. For 2024, the 401 (k) limit for employee salary deferrals is $23,000, which is above the 2023 401 (k) limit of $22,500.

You contribute $23,000—the maximum amount you’re allowed to put into your 401 (k) in 2024. The contribution limit for simple 401 (k)s is $16,000 (up to $19,500 if you’re 50 or older).