401k 2024 Compensation Limit Irs

401k 2024 Compensation Limit Irs. 401 (a) (17) and 408 (k) (3) (c) compensation will rise to $340,000 from $330,000 in 2023. Highly compensated employees (hces) are employees who earn more than the irs maximum allowable compensation for a 401(k) of $155,000 ($150,000 for.

Contributions to 401 (k)s can be automatically deducted from your. The 2024 401(k) contribution limit is $500 higher than this year’s $22,500 max, which reflected a major increase from the 2022 limit of $20,500.