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. Section 415 of the internal revenue code (code) provides for dollar limitations on benefits and contributions under qualified retirement plans.
The 415(c) contribution limit applicable to defined contribution retirement plans increased from $66,000 to $69,000. According to irc §415 (b) (1), the maximum annual retirement benefit that a defined benefit plan may provide is limited to the lesser of:
