Annual Benefit & Limits

Type of Limitation

     2021

    2020

    2019

    2018

401(k) Elective Deferrals $19,500 $19,500 $19,000 $18,500
Catch up amount $6,500 $6,500 $6,000 $6,000
²Defined Benefit Plans $230,000 $230,000 $225,000 $220,000
²Defined Contribution Plans $58,000  $57,000 $56,000 $55,000
Annual Compensation Limit $290,000 $285,000 $280,000 $275,000
457(b)(2) and 
457(c )(1) Limits
$19,500 $19,500 $19,000 $18,500
Highly Compensated* 
($80,000 index)
$130,000 $130,000  $125,000 $120,000
SIMPLE Plans $13,500  $13,500 $13,000 $12,500
SIMPLE Plan 
catch up amount
$3,000 $3,000 $3,000 $3,000
SEP Coverage $650 $600 $600 $600
SEP Compensation $290,000 $285,000 $280,000 $275,000
Key employee officer threshold $185,000 $185,000 $180,000 $175,000
Income Subject to 
Social Security Tax
$142,800 $137,700 $132,900 $128,400
Tax Credit ESOP 
Threshold Balance
$1,165,000   $1,150,000   $1,130,000   $1,105,000  
Amount for Lengthening 
of 5-Year ESOP Period   
$230,000 $230,000  $225,000 $220,000

 

*Effective for limitation years ending in calendar year