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Retirement Plan Limits


Dollar Limitations on Benefits and Contributions

2019
2020
Defined Benefit Plan1

$225,000

$230,000

Annual Compensation2

$280,000

$285,000

Defined Contribution Limit

$56,000

$57,000

Elective Deferral

$19,000

$19,500

Catch-Up Deferral

$6,000

$6,500

Taxable Wage Base

$132,900

$137,700


1
Represents the maximum annual amount payable (i.e., as an annuity) to a 65-year old retiree commencing payments during 2019 & 2020 - not a useful number for assessing Defined Benefit plan contribution limits

2 Represents the maximum W-2 (or net earned income, if unincorporated) allowed to be considered for the purpose of determining a pension benefit or contribution

Dollar Limitations on Benefits and Contributions - unabridged IRS version