Plan Limits

The Internal Revenue Service has issued its annual cost-of-living adjustments applicable to dollar limitations for pension plans.

The dollar limits are as follows:

Plan/IRA Limits

2022

2021

2020

2019

401(k),403(b), and SARSEP maximum deferral $20,500 $19,500

$19,500

$19,000

457 maximum deferral $20,500 $19,500

$19,500

$19,000

Catch-up for 401(k), 403(b), SARSEP, and 457 $6,500 $6,500

$6,500

$6,000

SIMPLE election maximum deferral $14,000 $13,500

$13,500

$13,000

Catch-up for SIMPLE $3,000 $3,000

$3,000

$3,000

DB – annual benefit $245,000 $230,000

$230,000

$225,000

DC – annual contribution $61,000 $58,000

$57,000

$56,000

Compensation Limits $305,000 $290,000

$285,000

$280,000

Highly Compensated Employees Compensation $135,000 $130,000

$130,000

$125,000

Key Employees

Officer Compensation

$200,000

$185,000

$185,000

$180,000

Key Employees

1% Owner

$150,000

$150,000

$150,000

$150,000

Compensation Limits

Social Security

$147,000

$142,800

$137,700

$132,900