Benefit Limits
Indexed Employee Benefit Limits
| ITEM | 2022 | 2021 |
| 1. Maximum deferral to a 401(k) Plan | $20,500 | $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 | $61,000 | $58,000 |
| 4. Maximum 401(k) and Profit Sharing Plan contribution for a participant age 50 or older | $67,500 | $64,500 |
| 5.Maximum Defined Benefit Pension Plan Benefit (Dollar Limit payable at ages 62 to 65) | $245,000 | $230,000 |
| 6. Maximum compensation that can be used for Plan purposes | $305,000 | $290,000 |
| 7. Highly Compensated Employee Compensation Threshold | $135,000 | $130,000 |
| 8. Social Security Taxable Wage Base | $147,000 | $142,800 |
| 9. Medicare Wage Base | Unlimited | Unlimited |
|
|
