News

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2024 Defined Contribution Plan Limits

Maximum employee elective deferral (401(k), 403b, 457)

$23,000

Employee catch-up contribution (if age 50 or older by year-end)

$7,500

Defined contribution maximum limit, all sources

$69,000

Defined contribution maximum limit (if age 50 or older by year end); maximum contribution all sources plus catch-up

$76,500

Employee compensation limit for calculating contributions

$345,000

Compensation threshold for "key employees" in a top-heavy plan for 2025 determination

$220,000

Compensation threshold for "highly compensated employees" (HCE threshold) for 2025 determination

$155,000