Irs Definition Of Highly Compensated 2024. If you're a highly compensated employee, the total of your elective deferrals made for you for any year under a section 401(k) plan or sarsep plan may be limited by the average. The threshold for determining who’s a highly compensated employee will increase to $155,000 (up from $150,000).
Highly compensated employees (hces) are employees who earn more than the irs maximum allowable compensation for a 401(k) of $155,000 ($150,000 for 2023), or who own more than 5% of a business. Find out the 415 (c) limit, the 401 (a) (17).
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