Irs 401k Employer Contribution Limits 2024. There are limits to how much employers and employees can contribute to a plan (or ira) each year. $19,500 in 2020 and 2021 and $19,000 in 2019), plus $7,500 in 2023;.

For those with a 401(k), 403(b), or 457 plan through an employer, your new maximum contribution limit will go up to $23,000 in 2024. For 2024, individuals can contribute up to $23,000 to their 401(k), 403(b), most 457 plans, and the federal government’s thrift savings plan (tsp), an increase from last.