Maximum Compensation For 401k 2024. Contributions to 401 (k)s can be automatically deducted from your paycheck. The irs adjusts this limit every year.

 — the contribution limit for simple 401 (k)s is $16,000 (up to $19,500 if you’re 50 or older).  — starting in 2024, employees can contribute up to $23,000 into their 401(k), 403(b), most 457 plans or the thrift savings plan for federal employees, the irs announced nov.