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Annual Compensation and Contribution Limits for Qualified Retirement Plans

2020 2019 2018
Compensation $285,000 $280,000 $275,000
Limits on Benefits and Contributions
401(k), 403(b), and 457 Plan Elective Deferrals $19,500 $19,000 $18,500
Defined Contribution Plans $57,000 $56,000 $55,000
Defined Benefit Plans $225,000 $225,000 $220,000
SIMPLE Plan Elective Deferrals $13,500 $13,000 $12,500
IRA $6,000 $6,000 $5,500
“Highly Compensated” Definition $130,000 $125,000 $120,000
“Key Employee” Definition
Officer $185,000 $180,000 $175,000
1% Owner $150,000 $150,000 $150,000
Security Taxable Wage Base $137,700 $132,900 $128,400
Catch Up Contributions
401(k), 403(b), and 457 Plans $6,500 $6,000 $6,000
SIMPLE Plans $3,000 $3,000 $3,000
IRA $1,000 $1,000 $1,000

Annual Compensation and Contribution Limits for Qualified Retirement Plans

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2020 2019 2018
Compensation $285,000 $280,000 $275,000
Limits on Benefits and Contributions
401(k), 403(b), and 457 Plan Elective Deferrals $19,500 $19,000 $18,500
Defined Contribution Plans $57,000 $56,000 $55,000
Defined Benefit Plans $225,000 $225,000 $220,000
SIMPLE Plan Elective Deferrals $13,500 $13,000 $12,500
IRA $6,000 $6,000 $5,500
“Highly Compensated” Definition $130,000 $125,000 $120,000
“Key Employee” Definition
Officer $185,000 $180,000 $175,000
1% Owner $150,000 $150,000 $150,000
Security Taxable Wage Base $137,700 $132,900 $128,400
Catch Up Contributions
401(k), 403(b), and 457 Plans $6,500 $6,000 $6,000
SIMPLE Plans $3,000 $3,000 $3,000
IRA $1,000 $1,000 $1,000

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