Annual Limits

The IRS places limits on the dollar amount of contributions to retirement plans and IRAs and the amount of benefits under a pension plan. The Internal Revenue Code (IRC) requires the limits to be adjusted annually for cost-of-living increases. ASC Trust is pleased to present this table for your convenience.

Annual Compensation and Contribution Limits for Qualified Retirement Plans

2020

2019

2018

2017

401(k) and 403(b) Deferral Limit
19,500 19,000 18,500 18,000
457 Deferral Limit
19,500 19,000 18,500 18,000
401(k), 403(b), 457 Catch-up Contribution Limit
6,500 6,000 6,000 6,000
SIMPLE Deferral Limit
13,500 13,000 12,500 12,500
SIMPLE Catch-up Contribution Limit
3,000 3,000 3,000 3,000
Annual Compensation Limit
285,000 280,000 275,000 270,000
Defined Benefit 415 Limit
230,000 225,000 220,000 215,000
Defined Contribution 415 Limit
57,000 56,000 55,000 54,000
Dollar Limit for HCEs
130,000 125,000 120,000 120,000
Dollar Limit for Key Employee
185,000 180,000 175,000 175,000
Social Security Taxable Wage Base
137,700 132,900 128,400 127,200