ANNUAL COMPENSATION & CONTRIBUTION LIMITS
401(k) Plan Limits for Year |
2022 |
2021 |
2020 |
2019 |
401(k) Elective Deferrals |
$20,500 |
$19,500 |
$19,500 |
$19,000 |
Annual Defined Contribution Limit |
$61,000 |
$58,000 |
$57,000 |
$56,000 |
Annual Compensation Limit |
$305,000 |
$290,000 |
$285,000 |
$280,000 |
Catch-Up Contribution Limit |
$6,500 |
$6,500 |
$6,500 |
$6,000 |
Highly Compensated Employees |
$135,000 |
$130,000 |
$130,000 |
$125,000 |
Non-401(k) Related Limits |
2022 | 2021 | 2020 | 2019 |
Defined Benefit 415 Limit |
$245,000 |
$230,000 |
$230,000 |
$225,000 |
403(b)/457 Elective Deferrals |
$20,500 |
$19,500 |
$19,500 |
$19,000 |
SIMPLE Employee Deferrals |
$14,000 |
$13,500 |
$13,500 |
$13,000 |
SIMPLE Catch-Up Deferral |
$3,000 |
$3,000 |
$3,000 |
$3,000 |
SEP Minimum Compensation |
$650 |
$650 |
$600 |
$600 |
SEP Annual Compensation Limit |
$305,000 |
$290,000 |
$285,000 |
$280,000 |
Social Security Wage Base |
$147,000 |
$142,800 |
$137,700 |
$132,900 |