Highly Compensated 401k Year 2024. One of the first steps in designing a retirement plan and in verifying nondiscrimination tests pass is to identify highly compensated and key employees. An individual is also considered an hce if they own more than 5% of the business or.
The dollar limitations for retirement plans and certain other dollar limitations. For 2024, the 401 (k) limit for employee salary deferrals is $23,000, which is above the 2023 401 (k) limit of $22,500.