Each year the U.S. government adjusts the limits for qualified plans and Social Security to reflect cost-of-living adjustments and changes in the law. The elective deferral and catch-up limits are always based on the calendar year.
| Limit | 2025 | 2024 | 2023 |
|---|---|---|---|
| General Limits | |||
| Annual Compensation Limit | $350,000 | $345,000 | $330,000 |
| Limits on Benefits | |||
| Defined Contribution Plans | $70,000 | $69,000 | $66,000 |
| Defined Benefit Plans | $280,000 | $275,000 | $265,000 |
| Elective Deferral Limits | |||
| 401(k) Plan | $23,500 | $23,000 | $22,500 |
| 403(b) Plan | $23,500 | $23,000 | $22,500 |
| 457 Plan | $23,500 | $23,000 | $22,500 |
| SIMPLE Plan | $16,500 | $16,000 | $15,500 |
| IRA | $7,000 | $7,000 | $6,500 |
| Catch-Up Contributions (Age 50+) | |||
| 401(k) Plan | $7,500 | $7,500 | $7,500 |
| 403(b) Plan | $7,500 | $7,500 | $7,500 |
| 457 Plan | $7,500 | $7,500 | $7,500 |
| SIMPLE Plan | $3,500 | $3,500 | $3,500 |
| IRA | $1,000 | $1,000 | $1,000 |
| Other Limits | |||
| Social Security Taxable Wage Base | $176,100 | $168,600 | $160,200 |
| Highly Compensated Employee Definition | $160,000 | $155,000 | $150,000 |