Defined Contribution Limit For 2024. In general, the annual benefit for a participant under a defined benefit plan cannot exceed the lesser of: This goes for employees covered by 403(b) plans and most 457.

The 401 (k) contribution limit for 2024 is $23,000 for employee contributions, and $69,000 for the combined employee and employer contributions. The basic limit on elective deferrals is $23,000 in 2024, $22,500 in 2023, $20,500 in 2022, $19,500 in 2020 and 2021, and $19,000 in 2019, or 100% of the employee’s.