IRS Announces 2020 Retirement Plan Limits
The IRS recently announced the indexed dollar limits to qualified retirement plans for 2020. The updated retirement plan limits are provided in the table below. This update is for informational purposes only and is not intended to be used as legal advice.
IRS Retirement Plan Limits |
IRC Reference |
2019 Limit |
2020 Limit |
| 401(k) & 403(b) Employee Deferral Limit | 402(g)(1) | $19,000 | $19,500 |
| 457 Employee Deferral Limit | 457(e)(15) | $19,000 | $19,500 |
| Catch-up Contribution | 414(v)(2)(B)(i) | $6,000 | $6,500 |
| Defined Contribution Dollar Limit | 415(c)(1)A) | $56,000 | $57,000 |
| Defined Benefit Dollar Limit | 415(b)(1)(A) | $225,000 | $230,000 |
| Compensation Limit | 401(a)(17); 404(l) | $280,000 | $285,000 |
| Highly Compensated Employee Income Limit | 414(q)(1)(B) | $125,000 | $130,000 |
| Key Employee/Officer | 416(i)(1)(A)(i) | $180,000 | $185,000 |
| Social Security Taxable Wage Base | $132,900 | $137,700 |
For the full update on limits, please see Notice 2019-59 on the IRS website.
View the 2018-2019 comparison.
