Highly Compensated Employee 401k 2024 Limit. In 2024, the 401 (k) contribution limits are $23,000, or $30,500 if you're 50 or older. The 2024 highly compensated employee limit for deductions and contributions stands at $345,000.

Employers can also designate the top 20% of earners in the. The annual limit on the maximum compensation that can be taken into account for certain retirement plan contributions and deductions will rise to $345,000 (up.