For any participant born after 1974, the maximum dollar amount of employee Pre-Tax and/or Roth After-Tax 401(k) contribution is $23,000.

For any participant born in 1974 or earlier, an additional $7,500 “catch-up” contribution may be made, for a total Pre-Tax and/or Roth After-Tax 401(k) contribution of $30,500.

The annual compensation limit has been increased from $330,000 to $345,000 for plan years beginning in 2024.