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Southern Pension Services Since 1997

Contribution Limits 2021-2022

Limits for Qualified Defined Contribution Plans

  Calendar Year
  2021 2022
Employee Salary Deferral Limit to 401(k) Plans
Employee Catch-up Elective Contributions
$19,000
$6,500
$20,500
$6,500
Employee Salary Deferral Limit to 403(b) Plans
Employee Catch-up Elective Contributions
$19,000
$6,500
$20,500
$6,500
Employee Salary Deferral Limit to SIMPLE 401(k) Plans
Employee Catch-up Elective Contributions
$13,500
$3,000
$14,000
$3,000
Defined Contribution Maximum Annual Addition (IRC § 415 (c)) $58,000 $61,000
Definition of Highly Compensated Employees:    
Employee Compensation Exceeding (Prior Year)
An employee owning more than (current and prior year)
$130,000
5%
$135,000
5%
Definition of Key Employees:    
Officers Earning in Excess of
A more than 1% Owner Earning in Excess of
An employee owning more than
$185,000
$150,000
5%
$200,000
$150,000
5%
FICA Taxable Wage Base $142,800 $147,000
Maximum Compensation Limit $290,000 $305,000
Employer’s Deductible Contributions 25% 25%
 

Southern Pension Services Since 1997

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