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 |
|
|---|---|---|
401(k) and 403(b) Deferral Limit |
19,500 | 19,500 |
457 Deferral Limit |
19,500 | 19,500 |
401(k), 403(b), 457 Catch-up Contribution Limit |
6,500 | 6,500 |
SIMPLE Deferral Limit |
13,500 | 13,500 |
SIMPLE Catch-up Contribution Limit |
3,000 | 3,000 |
Annual Compensation Limit |
290,000 | 285,000 |
Defined Benefit 415 Limit |
230,000 | 230,000 |
Defined Contribution 415 Limit |
58,000 | 57,000 |
Dollar Limit for HCEs |
130,000 | 130,000 |
Dollar Limit for Key Employee |
185,000 | 185,000 |
Social Security Taxable Wage Base |
142,800 | 137,700 |