Annual Plan Limits (2)

Limits for Benefits and Contributions:

2021

2020

2019

2018

Defined Contribution Plans

$58,000

$57,000

$56,000

$55,000

Defined Benefit Plans

$230,000

$230,000

$225,000

$220,000

401(k), 403(b) and 457 Plan Elective Deferrals

$19,500

$19,500

$19,000

$18,500

SIMPLE Plan Elective Deferrals

$13,500

$13,500

$13,000

$12,500

IRA

$6,000

$6,000

$6,000

$5,500

Limits for Catch-Up Contributions:

 

 

 

 

401(k), 403(b) and 457 Plans

$6,500

$6,500

$6,000

$6,000

SIMPLE Plans

$3,000

$3,000

$3,000

$3,000

IRA

$1,000

$1,000

$1,000

$1,000

Top-Heavy "Key Employee" Definition:

 

 

 

 

Officer

$185,000

$185,000

$180,000

$175,000

1% Owner

$150,000

$150,000

$150,000

$150,000

Social Security Taxable Wage Base

$142,800

$137,700

$132,900

$128,700

Other Defined Limits

 

 

 

 

Compensation

$290,000

$285,000

$280,000

$275,000

"Highly Compensated Employee"

$130,000

$130,000

$125,000

$120,000