Plan Section & Contribution Limits | 2024 | 2023 | 2022 |
Maximum Defined Contribution Annual Additions | $69,000 | $66,000 | $61,000 |
Salary Deferral 401(k)/403(b) Limit | $23,000 | $22,500 | $20,500 |
Catch-Up Limit - 401(k)/403(b)/457 | $7,500 | $7,500 | $6,500 |
Defined Benefit/Cash Balance Plan Limit - Annuity Limits | $275,000 | $265,000 | $245,000 |
SIMPLE Plan Elective Deferrals | $16,000 | $15,500 | $14,000 |
IRA Limits (Traditional and Roth) | $7,500 | $6,500 | $6,000 |
Plan Compensation & Other Limits | 2024 | 2023 | 2022 |
Maximum Compensation for Retirement Plan Purposes | $345,000 | $330,000 | $305,000 |
HCE Compensation Limit | $155,000 | $150,000 | $135,000 |
Key Employee Officer | $220,000 | $215,000 | $200,000 |
Social Security Taxable Wage Base | $168,600 | $160,200 | $147,000 |