Annual Plan Limits
|
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 |