Limit For 2024 401k. The basic employee contribution limit for 2024 is $23,000 ($22,500 for 2023). Withdrawals made before 59 1/2 years may incur a 10% early withdrawal tax penalty, in addition to.
Employer matches don’t count toward this limit and can be quite generous. As of 2023, individual employees have a 401 (k) contribution limit of $22,500, allowing them to contribute this amount annually to their 401 (k) account on a.