2024 401k Cap. Total 401(k) plan contributions by an employee and an employer cannot exceed $69,000 in 2024. Workers who contribute to a 401(k), 403(b), most 457 plans and the federal government's thrift savings plan can contribute up to $23,000 in 2024, a $500 increase.

For 2024, the 401(k) limit for employee salary deferrals is $23,000, which is above the 2023 401(k) limit of $22,500. In 2024, the monthly benefit is capped at $943 for one person and $1,415 for a couple.