Retirement Plan Limits
2022
2023
2024
2025
Elective Salary Deferrals (401(k) & 403(b) & 457)
$20,500
$22,500
$23,000
$23,500
SIMPLE Employee Deferrals
$14,000
$15,500
$16,000
$16,500
Catch-Up Contribution (age 50 or older)
$6,500
$7,500
$7,500
$7,500
Higher Catch-Up Contribution for Employees Aged 60, 61, 62 and 63 SIMPLE Catch-Up Contributions (age 50 or older) Higher SIMPLE Catch-Up Contributions for Employees Aged 60, 61, 62 and 63 Maximum Compensation (includes maximum SEP compensation)
N/A
N/A
N/A
$11,250
$3,000
$3,500
$3,500
$3,500
N/A
N/A
N/A
$5,250
$305,000
$330,000
$345,000
$350,000
Maximum Benefit for Defined Benefit Plan
$245,000
$265,000
$275,000
$280,000
Maximum Annual Addition for Defined Contribution Plan
$61,000
$66,000
$69,000
$70,000
Pay Threshold to Determine HCE
$135,000
$150,000
$155,000
$160,000
Officer Pay Threshold To Determine Key Employee
$200,000
$215,000
$220,000
$230,000
Social Security Taxable Wage Base (OASDI)
$147,000
$160,200
$168,600
$176,100
SEP - Minimum Compensation
$650
$750
$750
$750
ESOP – Determining the Length of the General Five-Year Distribution Period ESOP – Maximum Account Balance subject to Five-Year Distribution Period
$245,000
$265,000
$275,000
$280,000
$1,230,000 $1,330,000 $1,380,000 $1,415,000
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