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

2022

2021

2020

2019

401(k) and 403(b) Deferral Limit
20,500 19,500 19,500 19,000
457 Deferral Limit
20,500 19,500 19,500 19,000
401(k), 403(b), 457 Catch-up Contribution Limit
6,500 6,500 6,500 6,000
SIMPLE Deferral Limit
14,000 13,500 13,500 13,000
SIMPLE Catch-up Contribution Limit
3,000 3,000 3,000 3,000
Annual Compensation Limit
305,000 290,000 285,000 280,000
Defined Benefit 415 Limit
245,000 230,000 230,000 225,000
Defined Contribution 415 Limit
61,000 58,000 57,000 56,000
Dollar Limit for HCEs
135,000 130,000 130,000 125,000
Dollar Limit for Key Employee
200,000 185,000 185,000 180,000
Social Security Taxable Wage Base
147,000 142,800 137,700 132,900