Social Security 2024 Maximum Contribution. For individuals under the age of 50, the maximum 401(k) plan contribution for 2024 is set at $23,000, signaling a notable increase of $500 from the previous year. For 2024, the social security tax limit is $168,600.
The maximum social security employer contribution will increase by. The commissioner of internal revenue announced the 2024 dollar limitations for benefits and contributions that apply to retirement plans.