Originally posted 10.1.2010 | Updated 11.8.2023
- Plan Limits
- 2024
- 2023
- A. Annual Deferral Limit
- 401(k)/403(b)/457/SARSEP
- $23,000
- $22,500
- SIMPLE Retirement Plans
- $16,000
- $15,500
- B. Catch-Up
- Age 50+ 401(k)/ 403(b)*/457*
- $7,500
- $7,500
- Age 50+ SIMPLE Plan
- $3,500
- $3,500
- C. 415 Annual Limits
- Defined Contribution Annual Contribution Limit
- $69,000
- $66,000
- Defined Benefit Maximum Annual Benefit
- $275,000
- $265,000
- D. Compensation Limit
- For determining contributions for non-governmental plans
- $345,000
- $330,000
- For determining contributions for certain governmental plans
- $505,000
- $490,000
- For SEP Eligibility
- $750
- $750
- E. Highly Compensated Employee Definition
- $155,000
- $150,000
- F. Key Employee/Officer
- $220,000
- $215,000
- G. Social Security Taxable Wage Base
- $168,600
- $160,200
- *A special additional catch-up limit applies for certain employees under 403(b) and 457 plans.