Annual Limits

Annual Compensation and Contribution Limits for Qualified Retirement Plans

The tax law places limits on the dollar amount of contributions to retirement plans and IRAs and the amount of benefits under a pension plan. The Internal Revenue Code (IRC) requires the limits to be adjusted annually for cost-of-living increases. BCG is pleased to present this table for your convenience.

2023
2022
2021
2020
401(k) and 403(b) Deferral Limit
22,500
20,500
19,500
19,500
457 Deferral Limit
22,500
20,500
19,500
19,500
401(k), 403(b), 457 Catch-up Contribution Limit
7,500
6,500
6,500
6,500
SIMPLE Deferral Limit
15,500
14,000
13,500
13,500
SIMPLE Catch-up Contribution Limit
3,500
3,000
3,000
3,000
Annual Compensation Limit
330,000
305,000
290,000
285,000
Defined Benefit 415 Limit
265,000
245,000
230,000
230,000
Defined Contribution 415 Limit
66,000
61,000
58,000
57,000
Dollar Limit for HCEs
150,000
135,000
130,000
130,000
Dollar Limit for Key Employee
215,000
200,000
185,000
185,000
Social Security Taxable Wage Base
160,200
147,000
142,800
137,700

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