Highly Compensated Employee 2024 401k Limit

Highly Compensated Employee 2024 401k Limit. In 2024, employees who are 50 and older qualify to contribute an extra $7,500 a year to their account. If you own more than 5% of the interest in a business or receive compensation above a certain amount (more than $155,000 in 2024 2),.

The main attraction of 401 (k) plans is the amount you can contribute; The 401 (k) contribution limit for 2023 is $22,500 or $30,000 if you are 50 or older.