Josi Wenona

2024 401k Contribution Limits 2024 Over 55. The contribution limit for simple 401k and simple ira plans is $16,000 in 2024. Workplace retirement plan contribution limits for 2024.

This amount is up modestly from 2023, when the individual 401 (k). In 2024, the irs raised the limit for annual ira contributions to $23,000 for people under 50 and $30,500 for those 50 and older, a $500 increase from 2023.