With the Annual Compensation Review cycle coming to a close, now is a good time to revisit your deferrals into the 401(k) plan. As a reminder, you can contribute from 1% – 50% of your eligible compensation, up to the annual Internal Revenue Service (IRS) contribution limit ($23,000 in 2024) or compensation limit ($345,000 in 2024), whichever is met first. Under the 401(k), you can make pre-tax contributions, Roth contributions, and/or true after-tax contributions.
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