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

2021

2020

2019

2018

401(k) and 403(b) Deferral Limit
19,500 19,500 19,000 18,500
457 Deferral Limit
19,500 19,500 19,000 18,500
401(k), 403(b), 457 Catch-up Contribution Limit
6,500 6,500 6,000 6,000
SIMPLE Deferral Limit
13,500 13,500 13,000 12,500
SIMPLE Catch-up Contribution Limit
3,000 3,000 3,000 3,000
Annual Compensation Limit
290,000 285,000 280,000 275,000
Defined Benefit 415 Limit
230,000 230,000 225,000 220,000
Defined Contribution 415 Limit
58,000 57,000 56,000 55,000
Dollar Limit for HCEs
130,000 130,000 125,000 120,000
Dollar Limit for Key Employee
185,000 185,000 180,000 175,000
Social Security Taxable Wage Base
142,800 137,700 132,900 128,400