2024 401 K Limits. Known as the 402 (g) limit in the internal revenue code (or irc), individuals can contribute up to $20,500 between their traditional and roth 401 (k) accounts in 2022. The contribution limit for simple 401 (k)s is $16,000 (up to $19,500 if you're 50 or older).

Of note, the 2024 pretax limit that applies to elective deferrals to irc section 401(k), 403(b) and 457(b) plans increased from $22,500 to $23,000. What are the 401(k) contribution limits for 2024?