2024 401k Annual Compensation Limit In India. Plan participants age 50 or older next year can contribute an additional $7,500, up $1,000 from 2022. If you use the 2024 plan year of july 1, 2024, to june 30, 2025, the 401 (a) (17) compensation limit would be $345,000 since the dollar limit in effect for the 2024.

In 2024, this limit is either 100% of your salary or $69,000 if you are under age 50. Shrm online will share the irs changes when they are released.