Type of Limitation 2020 2019
Elective Deferrals (401(k), 403(b), 457(b)(2) and 457(c)(1)) $19,500 $19,000
Section 414(v) Catch-Up Deferrals to 401(k), 403(b), 457(b), or SARSEP Plans (457(b)(3) and 402(g) provide separate catch-up rules to be considered as appropriate) $6,500 $6,000
SIMPLE 401(k) or regular SIMPLE plans, Catch-Up Deferrals $3,000 $3,000
415 limit for Defined Benefit Plans $230,000 $225,000
415 limit for Defined Contribution Plans $57,000 $56,000
Annual Compensation Limit $285,000 $280,000
Highly Compensated Employee 414(q)(1)(B) $130,000 $125,000
Key employee in top heavy plan (officer) $185,000 $180,000
SIMPLE Salary Deferral $13,500 $13,000
Taxable Wage Base $137,700 $132,000