Contribution Limits 2024. The ira contribution limits for 2024 are $7,000 for those under age 50, and $8,000 for those age 50 or older. As of 2023, individual employees have a 401 (k) contribution limit of $22,500, allowing them to contribute this amount annually to their 401 (k) account on a.


Contribution Limits 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. Those 50 and older can contribute an additional $7,500.

Contribution Limits 2024 Images References :