2024 2024 K Threshold Performance. Contribution limits for 401(k)s and other defined contribution plans. The elective deferral contribution if you’re at least age 50 is $30,500, again, a $500 increase from 2023.

5 for the 2023 plan year, an employee who earned more than $150,000 in 2022 is an hce. Of note, the 2024 pretax limit that applies to elective deferrals to irc section 401(k), 403(b) and 457(b) plans increased from $22,500 to $23,000.