Max 401k Contribution 2024 Employer Match Employer Match

Max 401k Contribution 2024 Employer Match Employer Match. Your plan requires a match of 50% on salary deferrals that do not exceed 5% of compensation. Although mary earned $360,000, your plan can only use up to $280,000 of her compensation when applying the matching.

However, there is a combined employee and employer 401(k) contribution limit, and the. Note that any employer match doesn’t count toward an individual’s 401 (k) annual contribution limit ($23,000 in 2024 or $30,500 for those 50 and up).