Jodee Lynnell

401k Maximum Contribution 2024 Employer Match Rate. Note that employer matching contributions don’t count toward this limit,. The internal revenue service sets the maximum amount you and your employer can contribute to your 401 (k), and that number increases in 2024.

If you contribute, say, $23,000 toward your 401 (k) in 2024 and your employer adds $5,000, you’re still within the irs limits. Simple 401 (k) plan contributions max out at $16,000 for the 2024 tax year.