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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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Let QPA help you retain your business so you can prospect for new business opportunities. With just one call you can:
- Request a proposal
- Discuss plan design
- Meet with our consultants to provide customized service levels
- Get assistance in closing an important sale
- Increase your understanding of the qualified retirement plan market
