2024 Retirement Plan Contribution Limits
Plan Type	Under Age 50	Over Age 50
401(k), 403(b), most 457, Salary Reduction SEP	$23,000	$30,500
SIMPLE	$16,000	$19,500
IRA (Traditional/Roth)	$7,000	$8,000
Phase Outs	Phase Out Range
Traditional IRA Deduction Phase Outs:	Modified Adjustment Income
Married Filing Joint	$123,000	$143,000
Married Filing Joint - One Spouse is Covered at Work	$230,000	$240,000
Single Or Head of Household	$77,000	$87,000
Married or Filing Separately		$10,000
Roth IRA Contribution Phase Outs:	Modified Adjustment Income
Married Filing Joint	$230,000	$240,000
Single	$146,000	$161,000
Employer-sponsored plans may have additional contribution limits. Not all employer plans allow the higher contributions amount for those aged 50 and older. The IRA limitation caps a person's combined contributions to traditional and Roth IRAs for the year.