| Limit Description | IRC § | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|
| Catch-Up Deferral - age 50+ | 414(v) | 7,500 | 6,500 | $6,500 | $6,500 | $6,000 | $6,000 | $6,000 |
| Salary Deferral | 402(g) | 22,500 | 20,500 | $19,500 | $19,500 | $19,000 | $18,500 | $18,000 |
| Maximum Contribution - Defined Contribution Plan | 415(c) | 66,000 | 61,000 | $58,000 | $57,000 | $56,000 | $55,000 | $54,000 |
| Social Security Taxable Wage Base | 401(l) | 160,000 | 147,000 | $142,800 | $137,700 | $132,900 | $128,400 | $127,200 |
| Highly Compensated Employee | 414(q) | 150,000 | 135,000 | $130,000 | $130,000 | $125,000 | $120,000 | $120,000 |
| Key Employee (officer) | 416(i) | 215,000 | 200,000 | $185,000 | $185,000 | $180,000 | $175,000 | $175,000 |
| Maximum Annual Benefit - Defined Benefit Plan | 415(b) | 265,000 | 245,000 | $230,000 | $230,000 | $225,000 | $220,000 | $215,000 |
| Plan Compensation | 401(a)(17) | 330,000 | 305,000 | $290,000 | $285,000 | $280,000 | $275,000 | $270,000 |
| SIMPLE's & IRA's Limit Description | IRC § | 2024 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|
| SEP/SIMPLE Annual Addition | 415(c) | 69,000 | 61,000 | $58,000 | $57,000 | $56,000 | $55,000 | $54,000 | $53,000 |
| SIMPLE Salary Deferral | 408(p) | 16,000 | 14,000 | $13,500 | $13,500 | $13,000 | $12,500 | $12,500 | $12,500 |
| SIMPLE Catch-Up Deferral - age 50+ | 414(v) | 3,500 | 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 | 38,250 57,375 76,500 | 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 |
| IRA | 219(b) | 7,000 | 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 | $1,000 |
| Income Limit for Traditional IRA (based on filing status) Single Single, Head of Household Married | 219(g) | 77,000 77,000 123,000 | 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) | 146,000 146,000 230,000 | 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 |
