Irs 401k Limits 2024 Total. Workplace retirement plan contribution limits for 2024. The contribution limits for individual retirement accounts (iras) also increases from $6,500 to $7,000.

The contribution limit for simple 401 (k)s is $16,000 (up to $19,500 if you’re 50 or older). There are limits to how much employers and employees can contribute to a plan (or ira) each year.