401k Limit 2024 Combined Employer Match. Your plan requires a match of 50% on salary deferrals that do not exceed 5% of compensation. It can range from 0% to 100%, and typically depends on how much you contribute.
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). In 2024, your employees’ 401 (k) contribution limits will increase to $23,000, up from $22,500 in 2023.