401k 2024 Contribution Limit Irs After Tax. The 401 (k) contribution limit for 2024 is $23,000. 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 irs has announced the 2024 contribution limits for retirement savings accounts, including contribution limits for 401(k), 403(b), and 457(b) plans, as well as income limits. The 2023 individual 401 (k) contribution limit is $22,500, up $2,000 from 2022.