News & Press
2020 Retirement Plan Limits
The Internal Revenue Service has announced its inflation-adjusted retirement plan contribution limits for 2020.
|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 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.
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