Irs 401k 2024 Limit. Below are the 2024 irs limits and additional information to keep you informed. 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. $1,000 for individual retirement accounts, or iras: