Pension Limits
| TYPES OF LIMITATION | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| CONTRIBUTIONS AND BENEFIT LIMITS | |||||
| Elective Deferrals Limits | $23,500.00 | $23,000.00 | $22,500.00 | $20,500.00 | $19,500.00 |
| Catch-Up Contributions*1 | $7,500.00 | $7,500.00 | $7,500.00 | $6,500.00 | $6,500.00 |
| Annual Defined Contribution Limit | $70,000.00 | $69,000.00 | $66,000.00 | $61,000.00 | $58,000.00 |
| Annual Defined Contribution Limit Catch-Up | $77,500.00 | $76,500.00 | $73,500.00 | $65,500.00 | $64,500.00 |
| Defined Benefit Plans | $2,80,000.00 | $2,75,000.00 | $2,65,000.00 | $2,45,000.00 | $2,30,000.00 |
| COMPENSATION LIMITS | |||||
| Annual Compensation Limit | $3,50,000.00 | $3,45,000.00 | $3,30,000.00 | $3,05,000.00 | $2,90,000.00 |
| Highly Compensated Employee (“HCE”) | $1,60,000.00 | $1,55,000.00 | $1,50,000.00 | $1,35,000.00 | $1,30,000.00 |
| Key Employee/Officer | $2,30,000.00 | $2,22,000.00 | $2,15,000.00 | $2,00,000.00 | $1,85,000.00 |
| Income subject To Social Security | $1,76,100.00 | $1,68,600.00 | $1,60,200.00 | $1,47,000.00 | $1,42,800.00 |
| INDIVIDUAL RETIREMENT ACCOUNT (IRA) LIMITS | |||||
| SIMPLE Plan Elective Derferral | $16,500.00 | $16,000.00 | $15,500.00 | $14,000.00 | $13,500.00 |
| SIMPLE Catch-Up Contribution*1 | $3,500.00 | $3,500.00 | $3,500.00 | $3,000.00 | $3,000.00 |
| Individual Retirement Accounts (“IRA”),for 49 and below | $7,000.00 | $7,000.00 | $6,500.00 | $6,000.00 | $6,000.00 |
| Individual Retirement Accounts (“IRA”),for 50 and above | $8,000.00 | $8,000.00 | $7,500.00 | $7,000.00 | $7,000.00 |
*1 NOTE: For 2025, SECURE 2.0 allows plans to increase the catch-up contribution limit to 150% for those aged 60,61,62 and 63.