Max 401k Contribution For 2024 Employer Match. A 401 (k) match is when an employer puts money in an employee's retirement account based on what the employee contributes. Personal contribution limits for 401 (k) plans increased in 2024 to $23,000—up $500 from $22,500 in 2023—for people under age 50.

Here’s how the 401 (k) plan limits will change in 2024: Although mary earned $360,000, your plan can only use up to $280,000.