Benefit Limits
Indexed Employee Benefit Limits
| ITEM | 2024 | 2023 |
| 1. Maximum deferral to a 401(k) Plan | $23,000 | $22,500 |
| 2. Maximum 401(k) Catch Up Contribution - age 50 and over | $7,500 | $7,500 |
| 3. Maximum Profit Sharing Plan contribution for a participant | $69,000 | $66,000 |
| 4. Maximum 401(k) and Profit Sharing Plan contribution for a participant age 50 or older | $76,500 | $73,500 |
| 5.Maximum Defined Benefit Pension Plan Benefit (Dollar Limit payable at ages 62 to 65) | $275,000 | $265,000 |
| 6. Maximum compensation that can be used for Plan purposes | $345,000 | $330,000 |
| 7. Highly Compensated Employee Compensation Threshold | $155,000 | $150,000 |
| 8. Social Security Taxable Wage Base | $168,600 | $160,200 |
| 9. Medicare Wage Base | Unlimited | Unlimited |
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