Benefit Limits

Indexed Employee Benefit Limits

ITEM20212020
1. Maximum deferral to a 401(k) Plan$19,500$19,500
2. Maximum 401(k) Catch Up Contribution - age 50 and over$6,500$6,500
3. Maximum Profit Sharing Plan contribution for a participant$58,000$57,000
4. Maximum 401(k) and Profit Sharing Plan contribution for a participant age 50 or older$64,500$63,500
5.Maximum Defined Benefit Pension Plan Benefit (Dollar Limit payable at ages 62 to 65)$230,000$230,000
6. Maximum compensation that can be used for Plan purposes$290,000$285,000
7. Highly Compensated Employee Compensation Threshold$130,000$130,000
8. Social Security Taxable Wage Base$142,800$137,700
9. Medicare Wage BaseUnlimitedUnlimited