401k Contribution Limits 2024 Employer Match Benefit

401k Contribution Limits 2024 Employer Match Benefit. The 401 (k) contribution boost for 2024 is lower. For 2024, your employer can only consider up to $345,000 in compensation to calculate any contribution it makes to your 401(k) plan, whether through 401(k).

If you have a 401 (k) or other retirement plan at work, your employer may add money on your behalf, commonly with matching contributions. However, there is a limit that applies to total contributions, meaning the sum of the employee portion and employer match.