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Retirement Plan Limits

Retirement Plan Limits for 2020 and Earlier

 

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Limit and IRC Section 2020 2019 2018 2017 2016
Defined Benefit Plan Dollar Limit

IRC §415(b)(1)(A)

$230,000 $225,000 $220,000 $215,000 $210,000
Defined Contribution Plan Limit

IRC §415(c)(1)(A)

$57,000 $56,000 $55,000 $54,000 $53,000
401(k)/403(b) Elective Deferral Limit

IRC §402(g)(1)

$19,500 $19,000 $18,500 $18,000 $18,000
Governments/Tax-Exempts Deferral Limit

IRC §457(e)(15)

$19,500 $19,000 $18,500 $18,000 $18,000
401(k)/403(b)/457/SARSEP “Catch Up” Limit

IRC §414(v)(2)(B)(i)

$6,500 $6,000 $6,000 $6,000 $6,000
Annual Compensation Limit

IRC §§401(a)(17), 404(l)

$285,000 $280,000 $275,000 $270,000 $265,000
Highly Compensated Employee (HCE) Limit

IRC §414(q)(1)(B)

(Compensation exceeding limit will make someone an HCE next year.)

$130,000 $125,000 $120,000 $120,000 $120,000
Key Employee Officer Compensation

IRC §416(i)(1)(A)(i)

$185,000 $180,000 $175,000 $175,000 $170,000
SEP Minimum Compensation

IRC §408(k)(2)(C)

$600 $600 $600 $600 $600
SEP Compensation

IRC §408(k)(3)(C)

$285,000 $280,000 $275,000 $270,000 $265,000
SIMPLE Employee Contribution Limit

IRC §408(p)(2)(E)

$13,500 $13,000 $12,500 $12,500 $12,500
SIMPLE “Catch Up” Deferral Limit

IRC §414(v)(2)(B)(ii)

$3,000 $3,000 $3,000 $3,000 $3,000