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Annual Limit on Contributions and Compensation

Type of Limitation 2020 2021
Elective Deferrals (401(k), 403(b), 457(b)(2) and 457(c)(1)) $19,500 $19,500
Section 414(v) Catch-Up Deferrals to 401(k), 403(b), 457(b), or SARSEP Plans (457(b)(3) and 402(g) provide separate catch-up rules to be considered as appropriate) $6,500 $6,500
SIMPLE 401(k) or regular SIMPLE plans, Catch-Up Deferrals $3,000 $3,000
415 limit for Defined Benefit Plans $230,000 $230,000
415 limit for Defined Contribution Plans $57,000 $58,000
Annual Compensation Limit $285,000 $290,000
Highly Compensated Employee 414(q)(1)(B) $130,000 $130,000
Key Employee in Top Heavy Plan (Officer) $185,000 $185,000
Key Employee: 1% Owner $150,000 $150,000
SIMPLE Salary Deferral $13,500 $13,000
Taxable Wage Base $137,900 $142,800
IRA Contribution Limit $6,000 $6,000
Simple Catch-Up Limit $3,000 $3,000
SEP Threshold $600 $650

 

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