Irc 415 Limit 2024. The maximum amount that can be contributed on behalf of an individual to one or more qualified defined contribution plans in a given year is the lesser of this limit or 100% of. As of 2024, the annual limit for contributions to a defined contribution plan is $69,000.
The 415 limit for 401 (k) plans is $66,000 for 2023 and $69,000 for 2024. Section 415 of the internal revenue code (โcodeโ) provides for dollar limitations on benefits and contributions under qualified retirement plans.