Retirement Plan Limits
Overview
This chart is designed to give you a basic overview of contribution limits. It is not intended as a substitute for specific individualized tax advice. It is recommended that clients consult with a qualified tax advisor before making a contribution.
Tax Year |
2019 |
2018 |
2017 |
IRA Contribution Limit - 219(b)(5)(A) - Under Age 50 |
6,000 |
5,500 |
5,500 |
IRA Catch-Up Contribution Limit - 219(b)(5)(B) - Age 50 or Over |
1,000 |
1,000 |
1,000 |
SIMPLE IRA Maximum Contributions - 408(p)(2)(E) - Under Age 50 |
13,000 |
12,500 |
12,500 |
SIMPLE IRA Maximum Catch-Up Contribution - 414(v)(2)(B)(ii) Age 50 or Over |
3,000 |
3,000 |
3,000 |
Coverdell ESA Contribution Limit * |
2,000 |
2,000 |
2,000 |
Employer Defined Contribution Limit - 415(c)(1)(A) |
56,000 |
55,000 |
54,000 |
Elective Deferral Limit - 402(g)(1) |
19,000 |
18,500 |
18,000 |
Elective Deferral Catch-Up Limit - 414(v)(2)(B)(i) |
6,000 |
6,000 |
6,000 |
Annual Compensation Cap - 401(a)(17)/404(I) |
280,000 |
275,000 |
270,000 |
SEP Minimum Compensation - 408(k)(2)(C) |
600 |
600 |
600 |
SEP Maximum Compensation - 408(k)(3)(C) |
280,000 |
275,000 |
270,000 |
457 Elective Deferrals - 457(e)(15) |
19,000 |
18,500 |
18,000 |
Defined Benefit Limit - 415(b)(1)(A) |
225,000 |
220,000 |
215,000 |
Highly Compensated Employee (HCE) - 414(q)(1)(B) |
125,000 |
120,000 |
120,000 |
Key Employee - 416(i)(1)(A)(i) |
180,000 |
175,000 |
175,000 |
Taxable Wage Base |
132,900 |
128,400 |
127,200 |