Annual Plan Limits
Each year the U.S. government adjusts the limits for qualified plans and
Social Security to reflect cost-of-living adjustments and changes in the law. Many of these limits are based on the "plan year" as defined in the plan
document. The elective deferral and catch-up limits are always based on the
calendar year.
| Type |
2025 |
2024 |
2023 |
| Contribution and Benefit Limits |
|
|
|
| Elective Deferral Limit |
$23,500 |
$23,000 |
$22,500 |
| Catch-Up Contributions (age 50-59 and over 63) |
$7,500 |
$7,500 |
$7,500 |
| Catch-Up Contributions (ages 60-63) |
$11,250 |
– |
– |
| Annual Contribution Limit |
$70,000 |
$69,000 |
$66,000 |
| Annual Contribution Limit including Catch-Up Contributions (age 50-59 and over 63) |
$77,500 |
$76,500 |
$73,500 |
| Annual Contribution Limit including Catch-Up Contributions (age 60-63) |
$81,250 |
$76,500 |
$73,500 |
| Annual Benefit Limit |
$280,000 |
$275,000 |
$265,000 |
| Compensation Limits |
|
|
|
| Maximum Plan Compensation |
$350,000 |
$345,000 |
$330,000 |
| Income Subject to Social Security |
$176,100 |
$168,600 |
$160,200 |
| Key EE Compensation Threshold |
$230,000 |
$220,000 |
$215,000 |
| Highly Compensated EE Threshold |
$160,000 |
$155,000 |
$150,000 |
| IRA Limits |
|
|
|
| SIMPLE Plan Elective Deferrals |
$16,500 |
$16,000 |
$15,500 |
| SIMPLE Catch-Up Contributions |
$3,500 |
$3,500 |
$3,500 |
| Individual Retirement Account (IRA) |
$7,000 |
$7,000 |
$6,500 |
| IRA Catch-Up Contribution |
$1,000 |
$1,000 |
$1,000 |
|
