401k Annual Compensation Limit 2024 Limit. 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. In 2024, this limit is either 100% of your salary or $69,000 if you are under age 50.
In 2024, it’s $69,000, or $76,500 for employees 50 and older. The limit on total employer and employee contributions for 2024 was $69,000 or 100% of employee compensation, whichever was less.