Employee Contribution Limit 401k 2024 Employer Match.  — employees can invest more money into 401 (k) plans in 2024, with contribution limits increasing from 2023’s $22,500 to $23,000 for 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.

Although mary earned $360,000, your plan can only use up to $280,000 of her compensation when applying the matching. This means that, on average, companies will match 4.7% of an employee’s salary toward their retirement.