Irs 401k Contribution Limit 2024

Irs 401k Contribution Limit 2024. The elective deferral limit for simple plans is 100% of compensation or $16,000 in 2024, $15,500 in 2023, $14,000 in 2022, and $13,500 in 2020 and 2021. The 401(k) contribution limit for 2024 is $23,000 for employee contributions, and $69,000 for the combined employee and employer contributions.


Irs 401k Contribution Limit 2024

For those 50 or older, the limit is $30,500. The dollar limitations for retirement plans and certain other dollar limitations.

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Irs 401k Contribution Limit 2024