Combined 401k Contribution Limits 2024. The total overall 401 (k) contribution limit for 2024, which includes employer matching contributions and nonelective contributions, is $69,000. An employee can contribute $23,000 in 2024 and an additional $7,500 for those who are age 50 and over.
The limit for combined contributions made by employers and employees cannot exceed the lesser of 100% of an employee’s compensation or $69,000 in 2024, up from $66,000 in. The 2024 contribution limits for 401 (k), 403 (b), and most 457 plans have been raised, increasing by $500 the amount plan participants can contribute.