2021 Retirement Plan Contribution Limits

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2021 2020 2019
IRA Contribution Limit – 219(b)(5)(A) – Under Age 50 6,000 6,000 6,000
IRA Catch-Up Contribution Limit – 219(b)(5)(B) – Age 50 or Over 7,000 7,000 7,000
SIMPLE IRA Maximum Contributions – 408(p)(2)(E) – Under Age 50 13,500 13,500 13,000
SIMPLE IRA Maximum Catch-Up Contribution – 414(v)(2)(B)(ii)
Age 50 or Over
16,500 16,500 16,000
Coverdell ESA Contribution Limit * 2,000 2,000 2,000
Employer Defined Contribution Limit – 415(c)(1)(A) 58,000 57,000 56,000
Elective Deferral Limit – 402(g)(1) 19,500 19,500 19,000
Elective Deferral Catch-Up Limit – 414(v)(2)(B)(i) 26,000 26,000 25,000
Annual Compensation Cap – 401(a)(17)/404(I) 290,000 285,000 280,000
SEP Minimum Compensation – 408(k)(2)(C) 650 600 600
SEP Maximum Compensation – 408(k)(3)(C 290,000 285,000 280,000
457 Elective Deferrals – 457(e)(15) 19,500 19,500 19,000
Defined Benefit Limit – 415(b)(1)(A) 230,000 230,000 225,000
Highly Compensated Employee (HCE) – 414(q)(1)(B) 130,000 130,000 125,000
Key Employee – 416(i)(1)(A)(i) 185,000 185,000 180,000
Taxable Wage Base 142,800 137,700 132,900

 

To download a comprehensive PDF on the 2020 Retirement Plans, click here.

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