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Plan Limits

Contribution Limits for Retirement Plans

Limits2023202220212020
Compensation$330,000$305,000$290,000$285,000
Taxable Wage Base$160,200$147,000$142,800$137,700
Highly Compensated Employee (HCE)$150,000$134,000$130,000$130,000
Key Employer/Officer$215,000$200,000$185,000$185,000
Defined Contribution Limit$66,000$61,000$58,000$57,000
Maximum Contributions (401k/403b/457)$22,500$20,500$19,500$19,500
Maximum Catch-Up – Age 50+ (401k/403b/457)$7,500$6,500$6,500$6,500
Defined Benefit Limit$265,000$245,000$230,000$230,000
SIMPLE$15,500$14,000$13,500$13,500
SIMPLE Catch-Up – Age 50+$3,500$3,000$3,000$3,000
IRA Contribution Limit$6,500$6,000$6,000$6,000
IRA Catch-Up – Age 50+$1,000$1,000$1,000$1,000