Retirement Plan Solutions

Qualified Pension Plan Limits

2020 2019
401(k) Elective Deferrals $19,500 $19,000
Maximum 401(k) Catch-Up Contributions 1 $6,500 $6,000
Defined Benefit Plan (Max. Annual Benefit) 3 $230,000 $225,000
Defined Contribution Plan
(Max. Annual Contribution) 3
$57,000 $56,000
SIMPLE Maximum Deferral $13,500 $13,000
Annual Compensation (for determining Maximum Benefits & Contributions) 4 $285,000 $280,000
457(e)(15) Limits $19,500 $19,000
Social Security Taxable Wage Base 4 $137,700 $132,900
Key Employee Officer Threshold 3 $185,000 $180,000
Highly Compensated Employee 2 5% owner or $130,000  5% owner or $125,000 
  1. Participant must be at least 50 years old as of the end of the applicable year to qualify for catch-up contributions.
  2. For purposes of the Highly Compensated Employee determination, the applicable limit determines the HCEs for the following year (EX: $125,000 or more in 2019 identifies the individuals that will be HCEs in 2020).
  3. Effective for limitation years ending in calendar year.
  4. Effective for plan years beginning in calendar year.
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