401 K Plan Contribution Limits 2024 Employer Match

401 K Plan Contribution Limits 2024 Employer Match. In 2024, your employees’ 401 (k) contribution limits will increase to $23,000, up from $22,500 in 2023. If your plan provides for matching contributions, you must follow the plan’s match formula.

Starting in 2024, employees can contribute up to $23,000 into their 401 (k), 403 (b), most 457 plans or the thrift savings plan for federal employees, the irs. The 2024 contribution limit for 401(k) plans is $23,000, up from $22,500 in 2023.