Plan Limits:

Plan Limits

  2020

2019

401(k) Employee Deferral Contribution Limit

 $19,500

$19,000

401(k) “Catch Up” Contribution Limit       

 $6,500

$6,000

SIMPLE Plan Employee Contribution Limit 

 $13,500

$13,000

Annual Defined Benefit Plan Limit

 $230,000

$225,000

Annual Defined Contribution Plan Limit    

 $57,000

$56,000

Annual Compensation Limit  

 $285,000

$280,000

Highly Compensated Employee Limit    

 $130,000

$125,000

Social Security Wage Base     

 $137,700

$132,900