Retirement Plan Contribution Limits

401K PLAN CONTRIBUTION LIMITS AND OTHER KEY NUMBERS

IRS Limit202020192018
Defined Contribution Limitation$57,000$56,000$55,000
Annual Deferral for 401(k) Plans$19,500$19,000$18,500
401(k) Catch-Up Contribution (over the age of 50)$6,500$6,000$6,000
Annual Limit on Compensation$285,000$280,000$275,000
Threshold for Highly Compensated Employees$130,000$125,000$120,000
Key Employee Threshold for Offices$185,000$180,000$175,000
Social Security Taxable Wage Base$137,700$132,900
$128,700


SIMPLE Plans
Annual Deferrals$13,500$13,000$12,500
Catch up Contributions (over the age of 50)$3,000$3,000$3,000


IRA's
Annual Contribution$6,000$6,000$5,500
Catch up Contributions (over the age of 50)$1,000$1,000$1,000