2024 401k Contribution Limit. For 2023, the overall annual contribution limit (including both individual and employer contributions) was $66,000; The contribution limit for employees who participate in 401k, 403b, and most 457 plans, as well as the federal government's thrift savings plan is increased to $23,000, up from $22,500.
For those with a 401(k), 403(b), or 457 plan through an employer, your new maximum contribution limit will go up to $23,000 in 2024. The limit on total employer and employee contributions for 2024 was $69,000 or 100% of employee compensation, whichever was less.