Compensation Limit For 401k 2024. The annual limit on compensation that can be taken into account for contributions and deductions increased to $345,000 in 2024 (up from $330,000 in 2023). The 401 (k) compensation limit is $345,000.
This means that your total 401(k) contribution limit for 2024 is $30,500. Irs 401k annual compensation limit 2024.