Highly Compensated Employee 2024 Dolby. For 2024, a 401 (k) participant filing single can contribute up to $23,000 (up from $22,500 in 2023). 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).

The final rule will increase the standard salary level and the highly compensated employee total annual compensation threshold on the rule’s effective date. A highly compensated employee (hce) is an employee who meets certain income and ownership criteria set forth by the irs in the united states.