Irs Section 415 Limits 2024. Most of the dollar limits, including the elective deferral contribution limit for 401(k), 403(b) and 457(b) plans, the annual compensation limit under 401(a)(17) and the maximum. The highlights of limitations that changed from 2023 to 2024 include the following:
The limitation on the annual benefit for a defined benefit plan under section 415 (b) (1) (a) also increases to $275,000 (from $265,000). Section 415 of the internal revenue code (code) provides for dollar limitations on benefits and contributions under qualified retirement plans.