Annual Plan Contribution Limits

For Employer-Sponsored Plans

Annual retirement contribution limits

Contribution Limits 2023 2024
401(k) / 403(b) / 457(b) elective deferrals $22,500 $23,000
Catch-up contributions $7,500 $7,500
DC Plan combined annual contribution limit $66,000 $69,000
Annual compensation limit $330,000 $345,000
Highly compensated employee threshold $150,000 $155,000
Top heavy key employee dollar limit $215,000 $220,000
Social Security taxable wage base $160,200 $168,600
SIMPLE Plan contribution limit $15,500 $16,000
SIMPLE Plan catch-up $3,500 $3,500
Defined Benefit Annual Benefit Limit $265,000 $275,000
IRA contribution limit $6,500 $7,000
IRA catch-up $1,000 $1,000
Contribution Limits

Investment products: Not FDIC Insured — No Bank Guarantee — May Lose Value.