401k Max 2024 California 2024. 401(k) contribution limits for 2024. For 2024, the compensation limit (which is the amount of your income that’s used to figure out 401(k) contributions and matches) is limited to $345,000.

The contribution limit for simple 401 (k)s is $16,000 (up to $19,500 if you’re 50 or older). In 2024, employees can contribute up to $23,000 to their plans.