Annual Plan Limits

2021 2020 2019 2018
Qualified Plan
Compensation limit $290,000 $285,000 $280,000 $275,000



401(k) and 403(b) Plan
Maximum elective deferral $19,500 $19,500 $19,000 $18,500


SIMPLE Plan
Maximum elective deferral $13,500 $13,500 $13,000 $12,500


Catch-up Contribution Limit
401(k) and 403(b) $6,500 $6,500 $6,000 $5,500
SIMPLE $3,000 $3,000 $3,000 $2,500

Highly Compensated Definition
Compensation test $130,000 $130,000 $125,000 $120,000

Top Heavy Key EE Definition
Officer test $185,000 $185,000 $180,000 $175,000

Social Security
Taxable wage base $142,800 $137,700 $132,900 $128,400

Defined Contribution
Annual additions limit $58,000 $57,000 $56,000 $55,000

Defined Benefit
Annual benefit limit $230,000 $230,000 $225,000 $250,000