401k 2024 Contribution Limit Irs Catch-Up
401k 2024 Contribution Limit Irs Catch-Up . The 401(k) contribution limit for 2023 is $22,500 for employee contributions and $66,000 for combined employee and employer contributions. 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) compensation limit is $345,000. The limit on combined employee and employer contributions is $69,000, up from $66,000 in 2023.
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