Irs 401k Compensation Limits 2024. By exceeding your 401(k) contribution limits for 2024, you’re essentially underpaying your income taxes. Learn how the irs defines and limits the contributions of hces, who are employees who earn more than $155,000 in 2024 or own more than 5% of a business.

Learn how to calculate your salary deferrals to retirement plans, including 457 (b) plans, for 2024. The contribution limit for 401 (k)s, 403 (b)s, most 457 plans and the federal government’s thrift savings plan is $23,000 for 2024, up from $22,500 in 2023.