Contribution Limits 2020-2021
Limits for Qualified Defined Contribution Plans
Calendar Year | ||||||||
2020 | 2021 | |||||||
Employee Salary Deferral Limit to 401(k) Plans Employee Catch-up Elective Contributions |
$19,500 $6,500 |
$19,500 $6,500 |
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Employee Salary Deferral Limit to 403(b) Plans Employee Catch-up Elective Contributions |
$19,500 $6,500 |
$19,500 $6,500 |
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Employee Salary Deferral Limit to SIMPLE 401(k) Plans Employee Catch-up Elective Contributions |
$13,500 $3,000 |
$13,500 $3,000 |
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Defined Contribution Maximum Annual Addition (IRC § 415 (c)) | $57,000 | $58,000 | ||||||
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FICA Taxable Wage Base | $137,700 | $142,800 | ||||||
Maximum Compensation Limit | $285,000 | $290,000 | ||||||
Employer’s Deductible Contributions | 25% | 25% | ||||||