rr-24-01.pdf

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Part I
Section 401. -- Qualified Pension, Profit-Sharing, and Stock Bonus Plans
26 CFR 1.401(l)-1: Permitted disparity in employer-provided contributions or
benefits
Rev. Rul. 2024-1
This revenue ruling provides tables of covered compensation under
§ 401(l)(5)(E) of the Internal Revenue Code and the Income Tax
Regulations thereunder, for the 2024 plan year.
Section 401(l)(5)(E)(i) defines covered compensation with respect to an
employee as the average of the contribution and benefit bases in effect under
section 230 of the Social Security Act (“Act”) for each year in the 35-year
period ending with the year in which the employee attains Social Security
retirement age.
Section 401(l)(5)(E)(ii) of the Code states that the determination for any year
preceding the year in which the employee attains Social Security retirement
age shall be made by assuming that there is no increase in covered
compensation after the determination year and before the employee attains
Social Security retirement age.
Section 1.401(l)-1(c)(34) of the Regulations defines the taxable wage base as
the contribution and benefit base under section 230 of the Act.
Section 1.401(l)-1(c)(7)(i) defines covered compensation for an employee as the
average (without indexing) of the taxable wage bases in effect for each calendar
year during the 35-year period ending with the last day of the calendar year in
which the employee attains (or will attain) Social Security retirement age. A
35-year period is used for all individuals regardless of the year of birth of the
individual. In determining an employee's covered compensation for a plan year,
the taxable wage base for all calendar years beginning after the first day of the
plan year is assumed to be the same as the taxable wage base in effect as of the
beginning of the plan year. An employee's covered compensation for a plan year
beginning after the 35-year period applicable under § 1.401(l)- 1(c)(7)(i) is the
employee's covered compensation for a plan year during which the 35-year
period ends. An employee's covered compensation for a plan year beginning
before the 35-year period applicable under § 1.401(l)-1(c)(7)(i) is the taxable
wage base in effect as of the beginning of the plan year.

Section 1.401(l)-1(c)(7)(ii) provides that, for purposes of determining the amount
of an employee's covered compensation under § 1.401(l)-1(c)(7)(i), a plan may
use tables, provided by the Commissioner, that are developed by rounding the
actual amounts of covered compensation for different years of birth.
For purposes of determining covered compensation for the 2024 year, the
taxable wage base is $168,600.
The following tables provide covered compensation for 2024.
ATTACHMENT I
2024 COVERED COMPENSATION TABLE
CALENDAR CALENDAR YEAR OF 2024 COVERED
YEAR OF SOCIAL SECURITY COMPENSATION
BIRTH RETIREMENT AGE TABLE II
1907 1972 $ 4,488
1908 1973 4,704
1909 1974 5,004
1910 1975 5,316
1911 1976 5,664
1912 1977 6,060
1913 1978 6,480
1914 1979 7,044
1915 1980 7,692
1916 1981 8,460
1917 1982 9,300
1918 1983 10,236
1919 1984 11,232
1920 1985 12,276
1921 1986 13,368
1922 1987 14,520
1923 1988 15,708
1924 1989 16,968
1925 1990 18,312
1926 1991 19,728
1927 1992 21,192
1928 1993 22,716
1929 1994 24,312
1930 1995 25,920
1931 1996 27,576
1932 1997 29,304

1933
1934
1935
1936
1937
1938
1939
1940
1941
1942
1943
1944
1945
1946
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
2000
2005
2010
2015
2020
2025
2030
2035
2040
1998 31,128
1999 33,060
35,100
2001 37,212
2002 39,444
2004 43,992
46,344
2006 48,816
2007 51,348
2008 53,952
2009 56,628
59,268
2011 61,884
2012 64,560
2013 67,308
2014 69,996
72,636
2016 75,180
2017 77,880
2018 80,532
2019 83,244
86,052
2022 91,884
2023 95,172
2024 98,616
101,964
2026 105,264
2027 108,492
2028 111,660
2029 114,744
117,816
2031 120,840
2032 123,792
2033 126,660
2034 129,396
132,036
2036 134,556
2037 136,944
2038 139,284
2039 141,588
143,832

1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2057
145,956
147,984
149,892
151,656
153,420
155,184
156,864
158,424
159,900
161,340
162,768
163,944
165,096
166,116
167,004
167,736
168,360
1991 and later 2058 and later 168,600

ATTACHMENT II
2024 ROUNDED COVERED COMPENSATION TABLE
CALENDAR 2024 COVERED
YEAR OF COMPENSATION
BIRTH ROUNDED
1937 $ 39,000
1938 – 1939 45,000
1940 48,000
1941 51,000
1942 54,000
1943 57,000
1944 60,000
1945 63,000
1946 – 1947 66,000
1948 69,000
1949 72,000
1950 75,000
1951 78,000
1952 81,000
1953 84,000
1954 87,000
1955 93,000
1956 96,000
1957 99,000
1958 102,000
1959 105,000
1960 108,000
1961 111,000
1962 114,000
1963 117,000
1964 120,000
1965 123,000
1966 126,000
1967 129,000
1968 132,000
1969 135,000
1970 – 1971 138,000
1972 141,000
1973 144,000
1974 – 1975 147,000

1976 150,000
1977 – 1978 153,000
1979 – 1980 156,000
1981 – 1982 159,000
1983 – 1984 162,000
1985 – 1987 165,000
1988 – 1989 168,000
1990 and later 168,600
DRAFTING INFORMATION
The principal author of this notice is Tom Morgan of the Office of Associate Chief
Counsel (Employee Benefits, Exempt Organizations, and Employment Taxes).
However, other personnel from the IRS participated in the development of this
guidance. For further information regarding this notice, contact Mr. Morgan at
202-317-6700 or Nicholas Fox at 267-466-2192 (not toll-free numbers).