The following is a summary of the new calendar year limits which are used to allocate Employer contributions in Plans with permitted disparity, to limit employee deferrals to 401(k) plans, benefits and contributions under defined benefit and defined contribution plans, compensation for plan purposes, and to determine Highly Compensated Employees (“HCEs”) and Key Employees. For non-calendar year plans, the applicable limits are determined by the limits in effect on the first day of the plan year except for the Annual Additions Limit.
|
Tax Year
|
SS Taxable Wage Base
|
DC Plan Annual Additions
|
401(k) Deferral
|
Catch-Up
|
Annual Compensation
|
HCE Compensation
|
Key Officer Compensation
|
|
2024
|
$168,600
|
$69,000
|
$23,000
|
$7,500
|
$345,000
|
$155,000
|
$220,000
|
|
2023
|
$160,200
|
$66,000
|
$22,500
|
$7,500
|
$330,000
|
$150,000
|
$215,000
|
|
2022
|
$147,000
|
$61,000
|
$20,500
|
$6,500
|
$305,000
|
$135,000
|
$200,000
|
|
2021
|
$142,800
|
$58,000
|
$19,500
|
$6,500
|
$290,000
|
$130,000
|
$185,000
|
|
2020
|
$137,700
|
$57,000
|
$19,500
|
$6,500
|
$285,000
|
$130,000
|
$185,000
|
|
2019
|
$132,900
|
$56,000
|
$19,000
|
$6,000
|
$280,000
|
$125,000
|
$180,000
|
|
2018
|
$128,400
|
$55,000
|
$18,500
|
$6,000
|
$275,000
|
$120,000
|
$175,000
|
|
2017
|
$127,200
|
$54,000
|
$18,000
|
$6,000
|
$270,000
|
$120,000
|
$175,000
|
Additional information about the
Retirement Savings Contributions Credit (Saver’s Credit) can be found
here.
