What Is The 401k Limit For 2024 Catch-Up. Key takeaways the irs sets the maximum that you and your employer can contribute to your 401(k) each year. Workers ages 50 and older have a higher annual 401 (k) contribution limit than their younger peers.

Employers can only use the first $345,000 of compensation to determine your 401 (k). Those 50 and older can contribute.