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 |
|
|---|---|---|
401(k) and 403(b) Deferral Limit |
19,500 | 19,000 |
457 Deferral Limit |
19,500 | 19,000 |
401(k), 403(b), 457 Catch-up Contribution Limit |
6,500 | 6,000 |
SIMPLE Deferral Limit |
13,500 | 13,000 |
SIMPLE Catch-up Contribution Limit |
3,000 | 3,000 |
Annual Compensation Limit |
285,000 | 280,000 |
Defined Benefit 415 Limit |
230,000 | 225,000 |
Defined Contribution 415 Limit |
57,000 | 56,000 |
Dollar Limit for HCEs |
130,000 | 125,000 |
Dollar Limit for Key Employee |
185,000 | 180,000 |
Social Security Taxable Wage Base |
137,700 | 132,900 |