Irs 401k Annual Compensation Limit 2024. The irs also sets annual compensation limits in order to ensure the fair participation of all employees who. Your plan requires a match of 50% on salary deferrals that do not exceed 5% of compensation.
For 2023, the overall annual contribution limit (including both individual and employer contributions) was $66,000; Or simple 401(k) plan by increasing the annual salary reduction/elective contribution.