Irs Retirement Plan Contribution Limits 2024. The irs released 401 (k) and ira contribution limits for 2024, with higher limits than the previous year due to inflation. 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 dollar limitations for retirement plans and certain other dollar limitations. Cola increases for dollar limitations on benefits and contributions.
Irs Retirement Plan Contribution Limits 2024 Images References :