Caps and Maximum Contribution Numbers

Plan Type 2020 2019 2018 2017 2016
401(k), 403(b), and SARSEP maximum deferral [402(g)] $19,500 $19,000 $18,500 $18,000 $18,000
457 maximum deferral 19,500 19,000 18,500 18,000 18,000
Catch-up for 401(k), 403(b), SARSEP, and 457 6,500 6,000 6,000 6,000 6,000
SIMPLE election maximum deferral 13,500 13,000 12,500 12,500 12,500
Catch-up for SIMPLE 3,000 3,000 3,000 3,000 3,000
Defined benefit – annual benefit 230,000 225,000 220,000 215,000 210,000
Defined contribution – annual contributions 57,000 56,000 55,000 54,000 53,000
IRA limit 6,000 6,000 5,500 5,500 5,500
IRA catch-up 1,000 1,000 1,000 1,000 1,000
Maximum compensation 285,000 280,000 275,000 270,000 265,000
SEP annual compensation floor 600 600 600 600 600
Highly-compensated employees – any employee compensation 130,000 125,000 120,000 120,000 120,000
Officer compensation 185,000 180,000 175,000 175,000 170,000
1% owner 150,000 150,000 150,000 150,000 150,000
Taxable wage base 137,700 132,900 128,400 127,200 118,500