2024 IRS 401(k) Contribution and Compensation Limits

  2024 Limitations 2023 Limitations
Annual Additions Maximum (415 Limit) $69,000 $66,000
Employee 401(k) Contributions (402(g) Limit) $23,000 $22,500
Catch-Up Contributions (Age 50 or Older) $7,500 $7,500
Highly Compensated Employee Threshold $155,000 $150,000
Key Employee Threshold $220,000 $215,000
Annual Compensation (401(a)(17)) Limit $345,000 $330,000
Social Security Wage Base $168,600 $160,200


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