Irs 457 Plan Contribution Limits 2024. 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 single filers and $123,000 for a married couple filing jointly. The elective deferral limit for simple plans is 100% of compensation or $16,000 in 2024, $15,500 in 2023, $14,000 in 2022, and $13,500 in 2020 and 2021.


Irs 457 Plan Contribution Limits 2024

The maximum amount you can contribute to a 457 retirement plan in 2024 is $23,000, including any employer contributions. Thatโ€™s an increase of $500 over 2023.

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