Apple Growth Partners

2021 Retirement Plan Limits

November 2, 2020

The IRS released updates to retirement plan limits in 2021 last week:

2021 Retirement Plan Limits
401(k),403(b) and 457(b) Deferral Limits     $19,500$19,500$19,000
401(k) and 403(b) Catch-up Deferral Limits $6,500$6,500$6,000
Annual Limitation on Compensation            $290,000$285,000$280,000
Defined Contribution Limitation                     $58,000$57,000$56,000
Defined Benefit Limitation                               $230,000$230,000$225,000
Highly Compensated Employee Compensation Threshold    $130,000$130,000$125,000
Key Employee Compensation – Officer Threshold$185,000$185,000$180,000
SIMPLE Deduction$13,500$13,500$13,000
SIMPLE Catch-Up Contribution$3,000$3,000$3,000
IRA Contribution Limit$6,000$6,000$6,000
IRA Catch-Up Contribution Limit$1,000$1,000$1,000
Social Security Wage Base$142,800$137,700$132,900