GroupGroupBuck_BondGroup
IRS releases key retirement plan limits for 2021

IRS releases key retirement plan limits for 2021

by and Tags: ,

The IRS has issued Notice 2020-79 announcing the retirement plan limits for 2021.

Download this FYI Alert as a printable PDF

Retirement plan limits

The table below lists the key 2021 limits side by side with those in effect for 2020 — only two of these limits have increased from 2020 to 2021.

2021 2020
401(k)/403(b) elective deferral maximum $19,500 $19,500
§415 defined benefit dollar maximum $230,000 $230,000
§415 defined contribution annual addition maximum $58,000 $57,000
§457(b) nonqualified deferred compensation limit $19,500 $19,500
§401(a)(17) annual compensation limit $290,000 $285,000
§414(q) highly compensated employee limit $130,000 $130,000
§414(v) catch-up contribution limit $6,500 $6,500
§416(i) top-heavy officer limit $185,000 $185,000

In closing

Our For Your Reference, a wallet-sized booklet showing retirement plan and other benefit limits, as well as various key Social Security and Medicare figures, will be available shortly from your consultant.


Volume 43 | Issue 67

Related insights

EBSA issues COBRA subsidy model notices and FAQs

EBSA has issued model notices for communicating the availability of COBRA premium assistance provided...

Read more

San Francisco postpones HCSO and FCO reporting deadline

San Francisco requires covered employers to make minimum healthcare expenditures on behalf of their...

Read more

New York releases guidance on COVID-19 vaccine leave law

On March 12, New York state enacted a law requiring employers to provide paid...

Read more