Leia Raynell 2024 Highly Compensated Employee 2024 401k Limit 2024

Highly Compensated Employee 2024 401k Limit 2024

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Highly Compensated Employee 2024 401k Limit 2024. Or, regardless of ownership, if an employee earned more than $155,000 in 2024 (up from $150,000 in 2023). The 401 (k) contribution limits for 2024 are $23,000 for individuals under 50, and $30,500 for those 50 and older.


Highly Compensated Employee 2024 401k Limit 2024

The annual limit on compensation that can be taken into account for contributions and deductions increased to $345,000 in 2024. Employers can also designate the top 20% of earners in the company as hces, as long as these employees meet.

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