Maximum 401k Contribution 2024 Per Person 2024. This year the irs announced there will be an increase to the maximum employee 401 (k) contribution limit for 2024, increasing it to $23,000, a $500 increase from the 2023 tax. Total 401 (k) plan contributions by an employee and an employer cannot exceed $69,000 in 2024.

In 2024, you can cash out as much as $1,000 from a traditional 401 (k) or ira to cover an urgent. 401 (k) contribution limits in 2023 and 2024.