Employee 401k Limit 2024. Key takeaways the irs sets the maximum that you and your employer can contribute to your 401(k) each year.  — the internal revenue service (irs) raised the annual contribution limits for 2024 to $23,000, which amounts to a cost of living adjustment and is an increase from.

Employers can only use the first $345,000 of compensation to determine your 401(k). More people will be able to make contributions to roth.