Irs Deferred Comp Limit 2024. The irs just released the 2024 contribution limits on qualified retirement plans, such as your 401 (k). The elective deferral limit for employees who participate in 401 (k), 403 (b), most 457 plans, and the federal government's thrift savings plan increases from.

Participants in simple 401 (k) and simple ira plans can take advantage of an increased deferral limit of $17,600 (i.e., 110% of the $16,000 annual limit) if their. The income limit for taking a full deduction for your contribution to a traditional ira while participating in a workplace retirement plan in 2024 is $77,000 for.