401k Contribution Limits 2024 Company Match Contribution. For 2024, employees can defer up to $23,000 into 401 (k) plans, up from $22,500 in 2023, with an extra $7,500 for workers age 50 and older. You can contribute to more than one.

For example, if you’re paid $500,000, and your employer also offers a 5% match on your 401 (k) salary deferrals,. If you have a 401 (k) or other retirement plan at work, your employer may add money on your behalf, commonly with matching contributions.