2024 401k Limits Catch Up. The limit on combined employee and employer contributions is $69,000, up from $66,000 in 2023. The 2024 contribution limit for 401(k) plans is $23,000, up from $22,500 in 2023.

Of note, the 2024 pretax limit that applies to elective deferrals to irc section 401 (k), 403 (b) and 457 (b) plans increased from $22,500 to $23,000. It’s similar to a private company 401k in terms of tax benefits, contribution limits, etc.