Compensation Limit 401k 2024. If you participate in a 401 (k) retirement savings plan at work, your personal contribution limit in 2024 is $23,000. The normal contribution limit for elective deferrals to a 457 deferred compensation plan is increased to $23,000 in 2024.
Another benefit of a solo 401(k) is its generous contribution limit. For 2024, the 401 (k) limit for employee salary deferrals is $23,000, which is above the 2023 401 (k) limit of $22,500.
