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11/06/2019

2020 Retirement Plan Limits

2020 Key Plan Limits

A few of the key plan limits changed for 2020. Below are the limits for 2018-2020. See IRS announcement IR-2019-59 for a complete list of all plan limitation amounts.  

  2018 2019 2020
Elective Deferrals - 401(k), 403(b), and Most 457 Plans $18,500 $19,000 $19,500
Catch-up Contribution $6,000
$6,000 $6,500
DC Plan Combined Annual Contribution Limit $55,000 $56,000 $57,000
Annual Compensation Limit $275,000 $280,000 $285,000
Highly Compensated Employee Threshold $120,000 $125,000 $130,000
Top Heavy Key Employee Dollar Limit $175,000 $180,000 $185,000
       
SIMPLE Plan Contribution Limit $12,500 $13,000 $13,500
SIMPLE Plan Catch-up  $3,000 $3,000 $3,000
Defined Benefit Annual Benefit Limit $220,000 $225,000 $230,000
ESOP Maximum Balance Subject to Five-Year Distribution Rule $1,105,000 $1,130,000 $1,150,000
ESOP Amount to Determine Lengthening Five-Year Distribution Period      $220,000 $225,000 $230,000
       
IRA Contribution Limit $5,500 $6,000 $6,000
IRA Catch-Up $1,000 $1,000 $1,000