Benefit Limits

Indexed Employee Benefit Limits

ITEM20202019
1. Maximum deferral to a 401(k) Plan$19,500$19,000
2. Maximum 401(k) Catch Up Contribution - age 50 and over$6,500$6,000
3. Maximum Profit Sharing Plan contribution for a participant$57,000$56,000
4. Maximum 401(k) and Profit Sharing Plan contribution for a participant age 50 or older$63,500$62,000
5.Maximum Defined Benefit Pension Plan Benefit (Dollar Limit payable at ages 62 to 65)$230,000$225,000
6. Maximum compensation that can be used for Plan purposes$285,000$280,000
7. Highly Compensated Employee Compensation Threshold$130,000$125,000
8. Social Security Taxable Wage Base$137,700$132,900
9. Medicare Wage BaseUnlimitedUnlimited