401k Max Contribution 2024 And Ira Distribution. Each year, the internal revenue service (irs) provides a limit on what an individual can contribute to a 401 (k) plan. For 2024, the 401 (k) limit for employee salary deferrals is $23,000, which is above the 2023 401 (k) limit of $22,500.

Some retirement plans have lower limits, so check the details of your allowable contributions. In 2023, the limits are.