Highly Compensated Employee In 2024

Highly Compensated Employee In 2024. The 401 (k) contribution limits for 2023 are $22,500, or $30,000 if you're 50 or older. The 401 (k) contribution limit in 2023, including both employee and employer.

However, it’s crucial to understand the contribution limits, especially if you are a highly compensated employee (hce). An employee’s compensation from the business during 2023 was $200,000.