401 K Limits 2024 Catch Up Over 50. The annual contribution limit for a simple ira in 2023 is $15,500 and in 2024 is $16,000. Contribution limits for a roth 401(k) are the same as for a traditional 401(k).
The 401 (k) compensation limit is $345,000. 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.