Resources • Annual Plan Limits

The IRS annually announces cost-of-living adjustments for qualified retirement plans and IRAs. Some plan limits remain unchanged because the increase in the Consumer Price Index does not meet the thresholds for their adjustments, while others may rise.

The Finway Group is pleased to offer this chart for your reference.

Annual Compensation and Contribution Limits for Qualified Retirement Plans

2022
2021
2020
2019
401(k) and 403(b) Deferral Limit
20,500 19,500 19,500 19,000
457 Deferral Limit
20,500 19,500 19,500 19,000
401(k), 403(b), 457 Catch-up Contribution Limit
6,500 6,500 6,500 6,000
SIMPLE Deferral Limit
14,000 13,500 13,500 13,000
SIMPLE Catch-up Contribution Limit
3,000 3,000 3,000 3,000
Annual Compensation Limit
305,000 290,000 285,000 280,000
Defined Benefit 415 Limit
245,000 230,000 230,000 225,000
Defined Contribution 415 Limit
61,000 58,000 57,000 56,000
Dollar Limit for HCEs
135,000 130,000 130,000 125,000
Dollar Limit for Key Employee
200,000 185,000 185,000 180,000
Social Security Taxable Wage Base
147,000 142,800 137,700 132,900
401(k) and 403(b) Deferral Limit
2022 2021 2020 2019
20,500 19,500 19,500 19,000
457 Deferral Limit
2022 2021 2020 2019
20,500 19,500 19,500 19,000
401(k), 403(b), 457 Catch-up Contribution Limit
2022 2021 2020 2019
6,500 6,500 6,500 6,000
SIMPLE Deferral Limit
2022 2021 2020 2019
14,000 13,500 13,500 13,000
SIMPLE Catch-up Contribution Limit
2022 2021 2020 2019
3,000 3,000 3,000 3,000
Annual Compensation Limit
2022 2021 2020 2019
305,000 290,000 285,000 280,000
Defined Benefit 415 Limit
2022 2021 2020 2019
245,000 230,000 230,000 225,000

 

Defined Contribution 415 Limit
2022 2021 2020 2019
61,000 58,000 57,000 56,000

 

Dollar Limit for HCEs
2022 2021 2020 2019
135,000 130,000 130,000 125,000

 

Dollar Limit for Key Employee
2022 2021 2020 2019
200,000 185,000 185,000 180,000

 

Social Security Taxable Wage Base
2022 2021 2020 2019
147,000 142,800 137,700 132,900

 

"

“The Finway Group is a team of knowledgeable professionals providing financial services to meet the needs of their clients. They are a wealth of knowledge, providing superb customer service, and are always a pleasure to work with. They maintain a positive and upbeat attitude and work to educate clients in order for them to make solid decisions that work best for their company. I highly recommend The Finway Group for financial services!”

Anant