401k Limit For 2024. The maximum amount a single person can contribute from their salary to their 401k plan is expected to increase almost $1000, which will make a total of $24,000. Total 401(k) plan contributions by an employee and an employer cannot exceed $69,000 in 2024.

For 2024, the 401(k) limit for employee salary deferrals is $23,000, which is above the 2023 401(k) limit of $22,500. Rather, 401(k)s generally limit you to different funds that include mutual, target date, and index funds.