IRS Limits

Retirement Plan Limits

Limit DescriptionIRC §2023202220212020201920182017
Catch-Up Deferral - age 50+414(v)7,5006,500$6,500$6,500$6,000$6,000$6,000
Salary Deferral402(g)22,50020,500$19,500$19,500$19,000$18,500$18,000
Maximum Contribution - Defined Contribution Plan415(c)66,00061,000$58,000$57,000$56,000$55,000$54,000
Social Security Taxable Wage Base401(l)160,000147,000$142,800$137,700$132,900$128,400$127,200
Highly Compensated Employee414(q)150,000135,000$130,000$130,000$125,000$120,000$120,000
Key Employee (officer)416(i)215,000200,000$185,000$185,000$180,000$175,000$175,000
Maximum Annual Benefit - Defined Benefit Plan415(b)265,000245,000$230,000$230,000$225,000$220,000$215,000
Plan Compensation401(a)(17)330,000305,000$290,000$285,000$280,000$275,000$270,000
SIMPLE's & IRA's
Limit Description
IRC §2022202120202019201820172016
SEP/SIMPLE Annual Addition415(c)61,000$58,000$57,000$56,000$55,000$54,000$53,000
SIMPLE Salary Deferral408(p)14,000$13,500$13,500$13,000$12,500$12,500$12,500
SIMPLE Catch-Up Deferral - age 50+414(v)3,000$3,000$3,000$3,000$3,000$3,000$3,000
Income Limit for Saver's Tax Credit (based on filing status)
Single
Single, Head of Household
Married
25B
34,000
51,000
68,000

$33,000
$49,500
$66,000

$32,500
$48,750
$65,000

$32,000
$48,000
$64,000

$31,500
$47,250
$63,000

$31,000
$46,500
$62,000

$30,750
$46,125
$61,500
IRA219(b)6,000$6,000$6,000$6,000$5,500$5,500$5,500
IRA Catch-Up - age 50+219(b)1,000$1,000$1,000$1,000$1,000$1,000$1,000
Income Limit for Traditional IRA (based on filing status)
Single
Single, Head of Household
Married
219(g)
78,000
78,000
129,000

$76,000
$76,000
$125,000

$75,000
$75,000
$124,000

$74,000
$74,000
$123,000

$73,000
$73,000
$121,000

$72,000
$72,000
$119,000

$71,000
$71,000
$118,000
Income Limit for Roth IRA (based on filing status)
Single
Single, Head of Household
Married
408A(c)
144,000
144,000
214,000

$140,000
$140,000
$208,000

$139,000
$139,000
$206,000

$137,000
$137,000
$203,000

$135,000
$135,000
$199,000

$133,000
$133,000
$196,000

$132,000
$132,000
$194,000