Annual Plan Limits

Limits for Benefits and Contributions:

2022

2021

2020

2019

Defined Contribution Plans

$61,000

$58,000

$57,000

$56,000

Defined Benefit Plans

$245,000

$230,000

$230,000

$225,000

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

$20,500

$19,500

$19,500

$19,000

SIMPLE Plan Elective Deferrals

$14,000

$13,500

$13,500

$13,000

IRA

$6,000

$6,000

$6,000

$6,000

Limits for Catch-Up Contributions:

 

 

 

 

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

$6,500

$6,500

$6,500

$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

$200,000

$185,000

$185,000

$180,000

1% Owner

$150,000

$150,000

$150,000

$150,000

Social Security Taxable Wage Base

$147,000

$142,800

$137,700

$132,900

Other Defined Limits

 

 

 

 

Compensation

$305,000

$290,000

$285,000

$280,000

"Highly Compensated Employee"

$135,000

$130,000

$130,000

$125,000