Irs Maximum 401k Allowable Contribution 2024. Find out the irs limit on how much you and your employer can contribute to your 401(k) retirement savings account in 2023 and 2024. Total 401(k) plan contributions by an employee and an employer cannot exceed $69,000 in 2024.

The elective deferral limit for simple plans is 100% of compensation or $16,000 in 2024, $15,500 in 2023, $14,000 in 2022, and $13,500 in 2020 and 2021. The irs revisits these numbers annually and, if necessary, adjusts them for.