Each year the IRS updates the amount of money individuals may save for retirement into 401(k) and IRA plans.
- Learn how much you can save this year
- Maximize your retirement plan contributions
- Incentivize your team to save for their future
This Year's Contribution Limits
Maximum employee elective contribution (age 49 and younger)
$23,000
Maximum employee elective contribution (age 50 and older)
Additional $7,500
Maximum employee elective deferral plus catch-up contribution (age 50 or older)
$30,500
Defined contribution maximum limit, employee + employer (age 49 or younger)
$69,000
Defined contribution maximum limit (age 50 or older), all sources + catch-up
$76,500
Highly compensated employees’ threshold for nondiscrimination testing
$155,000
Key employee officer compensation threshold
$220,000
Annual compensation limit for HCEs and key employees
$345,000