Annual Limits

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The tax law places limits on the dollar amount of contributions to retirement plans and IRAs and the amount of benefits under a pension plan. The Internal Revenue Code (IRC) requires the limits to be adjusted annually for cost-of-living increases. Ingham is pleased to present this table for your convenience.

Annual Compensation and Contribution Limits for Qualified Retirement Plans

2021 2020 2019 2018 2017
401(k) and 403(b) Deferral Limit 19,500 19,500 19,000 18,500 18,000
457 Deferral Limit 19,500 19,500 19,000 18,500 18,000
401(k), 403(b), 457 Catch-up Contribution Limit 6,500 6,500 6,000 6,000 6,000
SIMPLE Deferral Limit 13,500 13,500 13,000 12,500 12,500
SIMPLE Catch-up Contribution Limit 3,000 3,000 3,000 3,000 3,000
Annual Compensation Limit 290,000 285,000 280,000 275,000 270,000
Defined Benefit 415 Limit 230,000 230,000 225,000 220,000 215,000
Defined Contribution 415 Limit 58,000 57,000 56,000 55,000 54,000
Dollar Limit for HCEs 130,000 130,000 125,000 120,000 120,000
Dollar Limit for Key Employee 185,000 185,000 180,000 175,000 175,000
Social Security Taxable Wage Base 142,800 137,700 132,900 128,700 127,200

 

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Established in 1972, the Ingham Retirement Group (Ingham) is a national, independent, full service retirement plan consulting, investment advisory, record keeping & actuarial firm. Ingham’s staff includes an ERISA attorney, CPA, Actuaries, Investment Advisors, Fiduciary Analysts & Compliance Administrators.

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