402g Limit 2024 Catch Up Contribution. The excess deferrals can be correcting by distributing the excess (including earnings) by the due date of your tax return. The irc section 401 (a) (17) annual compensation limit applicable to retirement plans increased from $330,000 to $345,000 for 2024.

The elective deferral limit under irc section 402 (g) increased. The total maximum allowable contribution within the defined contribution plan will also be anticipated to rise almost $2000, making a total of $71,000 and in 2025,.