2024 401k Maximum Compensation. The table below shows the allowable contribution amounts and dollar limits for 2024 and. The 401 (k) contribution limit is the maximum amount an individual can contribute to their 401 (k) retirement account in a calendar year without facing tax.

As open enrollment season is in full swing, employers are still waiting for one important figure: For the tax year 2024, the maximum amount that an employee can contribute to their 401(k) retirement plan is $23,000.