Highly Compensated 401k Limits 2024. Maximum 401(k) contribution limits for 2024 total 401(k) plan contributions by an employee and an employer cannot exceed $69,000 in 2024. The limit on elective deferrals under 401 (k), 403 (b), and eligible 457 (b) plans increased to $23,000.
The limit on elective deferrals under 401 (k), 403 (b), and eligible 457 (b) plans increased to $23,000. For 2024, the irs limits the amount of compensation eligible for 401 (k) contributions to $345,000.
Employees 50 Years And Older Are Also Allowed A.
Retirement savers are eligible to put $500 more in a 401.
If Your Earned Income Is Too.
The threshold for determining who is a highly compensated employee under section 414 (q) (1) (b) increases to $155,000 (from $150,000).
The Following Limits Apply To Retirement Plans In 2024:
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That's An Increase From The 2023 Limit Of $330,000.
For 2024, the contribution limit is $23,000.
Employees Will Be Able To Sock Away More Money Into Their 401 (K)S Next Year.
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