Annual Plan Limits
As the IRS makes changes to the annual qualified retirement plan limits and maximum contributions, EIP will keep you informed and help you determine if your plan still meets your objectives. Below are some of the current plan limits, as well as the numbers for the prior two years.
|Max Defined Contribution||$61,000||$58,000||$57,000||$56,000|
|Max Defined Benefit||245,000||230,000||230,000||225,000|
|Max 401(k) Deferral||20,500||19,500||19,500||19,000|
|Highly Compensated Employee||135,000||130,000||130,000||125,000|
|Social Security Tax Wage Base||147,000||142,800||137,700||132,900|