News & Press

News & Press

2020 Retirement Plan Limits

The Internal Revenue Service has announced its inflation-adjusted retirement plan contribution limits for 2020.

Deferral Limits 2020 2019
Elective Deferral Limit for 401(k), 403(b) and 457(b) Plans $19,500 $19,000
Catch-up Contribution Limit IRC 414(v)   $6,500   $6,000
            Benefits and Compensation
Annual Additions Limit for Defined Contribution Plans   $57,000   $56,000
Annual Compensation Limit $285,000 $280,000
Highly Compensated Employee Limit $130,000 $125,000
Key Employee Determination Limit $185,000 $180,000
Limit on Annual Benefits for Defined Benefit Plans $230,000 $225,000
SIMPLE Retirement Plan Contribution Limit   $13,500   $13,000
SIMPLE Retirement Plan Catch-Up     $3,000     $3,000
Social Security/Medicare
Social Security Wage Base (Old Age, Survivors) $137,700  $132,900
Individual Benefit Limits
IRA & Roth IRA $6,000 $6,000
IRA & Roth IRA Catch $1,000 $1,000

*3G Retirement Services, LLC does not provide tax or legal advice. Please consult a qualified tax or legal advisor about your plan contributions.


3G Retirement Services LLC or its affiliates, does not provide tax or legal advice.  To the extend any communication (including any information provided by or referred to by third party sites or sources), mentions or discusses any tax matter, it is not intended or written to be used, and cannot be used by the recipient or any other person, for the purpose of (1) avoiding penalties under Internal Revenue Code or (2) promoting, marketing or recommending to another party the matter addressed herein.  Taxpayers should seek advice from an independent tax and/or legal counsel.

Information contained herein is general in nature and is not intended to constitute legal, investment or tax advice.  It is not a solicitation to buy or sell securities.

Contact Us