Highly Compensated Employee 2024 Test

Highly Compensated Employee 2024 Test. A highly compensated employee is deemed exempt under section 13(a)(1) if: The 401 (k) contribution limits for 2023 are $22,500, or $30,000 if you're 50 or older.

In april 2024, the united states department of labor (dol) released a final rule that will increase the minimum salary amount required to. The department of labor’s (dol’s) new rule raises the rate first to $844 a week ($43,888 annualized), then to $1,128 (or $58,656 a year).