401k 2024 Compensation Limit Irs

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401k 2024 Compensation Limit Irs. The 401 (k) compensation limit is $345,000. The elective deferral limit for simple plans is 100% of compensation or $16,000 in 2024, $15,500 in 2023, $14,000 in 2022, and $13,500 in 2020 and 2021.


401k 2024 Compensation Limit Irs

401(k) compensation limits for 2024. Section 415 of the internal revenue code (code) provides for dollar limitations on benefits and contributions under qualified retirement plans.

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