2024 Max 401k Contribution Employer Tax. As of 2024, the irs’s 401 (k) contribution limit has risen to $23,000. Simple 401 (k) plan contributions max out at $16,000 for the 2024 tax year.

One of the first innovations after erisa was signed into law was the creation of the first 401(k) vehicle just four years later, in 1978. 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.