2024 Retirement Plan Contribution Limits for some of the most common types of accounts

There are many different types of retirement accounts, all with different limits, so we have put together a list of the limits

IRA

• $7,000 limit
• $8,000 limit for 50 or older

Simple IRA

• $16,000 limit
• $19,500 limit for 50 or older

401(k)

• $23,000 limit
• $30,500 limit for 50 or older

Roth IRA

• $7,000 limit
• $8,000 limit for 50 or older

SEP IRA

• Lesser of 25% compensation or $69,000 limit
• Same limit for 50 or older

403(b)

• $23,000 limit
• $30,500 limit for 50 or older