Annual 401k Limit 2024. In 2024, employers and employees together can. The solo 401 (k) is designed for small business owners with no employees except a spouse who works for the business.
The contribution limit for simple 401 (k)s is $16,000 (up to $19,500 if you’re 50 or older). The 2024 contribution limits for 401 (k), 403 (b), and most 457 plans have been raised, increasing by $500 the amount plan participants can contribute.