Retirement Plan Limits

2019

2020

Limits on benefits and contributions

401(k) & 403(b) plans, elective deferral limit

457(b) plan, total contribution limit

Age 50 catch-up contribution limit

Defined contribution plan, total contribution limit

Defined benefit plan, annual accrual limit

$19,000

$19,000

$6,000

$56,000

$225,000

$19,500

$19,500

$6,500

$57,000

$230,000

“Highly compensated employee” status

$125,000

$130,000

Annual compensation limit

$280,000

$285,000

“Key employee” officer status

$180,000

$185,000

SIMPLE plans

Elective deferral limit

Catch-up contribution limit

$13,000

$3,000

$13,500

$3,000

IRAs

Contribution limit

Catch-up contribution limit

$6,000

$1,000

$6,000

$1,000

Health Care FSA

2019

2020

Annual salary reduction limit

$2,700

$2,750

Health Savings Accounts

2019

2020

Annual HSA contribution deduction limit

Self-only coverage

Family coverage

Catch-up contribution

$3,500

$7,000

$1,000

$3,550

$7,100

$1,000

Out-of-pocket spending limit

Self-only coverage

Family coverage

$6,750

$13,500

$6,900

$13,800

Minimum annual deductible

Self-only coverage

Family coverage

$1,350

$2,700

$1,400

$2,800

Qualified Transportation Fringe Benefit

2019

2020

Maximum monthly qualified parking benefit

$265

$270

Maximum monthly qualified transit pass benefit

$265

$270

Social Security Limits

2019

2020

FICA wage base

$132,900

$137,700

Earnings test thresholds

Before normal retirement age

Year of normal retirement age

$17,640

$46,920

$18,240

$48,600

Maximum monthly benefit at full retirement age

$2,861

$3,011