|
401(k) Plan Features
|
 Funding Source
|
Employee & Employer
|
 Maximum Employee Contribution
|
|
|
Under Age 50
|
Age 60-63
|
Age 50-59, 64+
|
2024
|
$23,000
|
$30,500
|
$30,500
|
2025
|
$25,500
|
$34,750
|
$31,000
|
|
 Maximum Employer Contribution
|
25% of Compensation
|
 Maximum Aggregate Contribution
|
|
|
Under Age 50
|
Age 60-63
|
Age 50-59, 64+
|
2024
|
$69,000
|
$76,500
|
$76,500
|
2025
|
$70,000
|
$81,250
|
$77,500
|
2024 |
Under Age 50
$69,000
|
Age 50 or Older
$76,500
|
2022 |
Under Age 50
$61,000
|
Age 50 or Older
$67,500
|
|
 Plan Establishment Deadline
|
Business tax return due date, including extensions
(payroll deferrals only eligible prospectively)
|
 Account Structure
|
Employer-Administered Group Trust
|
 Additional Plan Features
|
✔ Withdrawal Restrictions
✔ Vesting
✔ Plan Loans
|