Deferred Compensation Limit 2024. The internal revenue service recently announced 2024 dollar limits for qualified retirement plans (including 401 (k) plans), deferred compensation plans, and. 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.

Employees 50 and older can contribute an additional $7,500 in both. What is the 401(k) contribution limit in 2024?