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14400 Jones Maltsberger Road
San Antonio, Texas 78247

phone:  210.490.2550
toll free: 800.545.1065





































 

Annual Plan Limits

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. Many of these limits are based on the "plan year" as defined in the plan document. The elective deferral and catch-up limits are always based on the calendar year.

Type 2024 2023 2022
Contribution and Benefit Limits
Elective Deferral Limit $23,000 $22,500 $20,500
Catch-Up Contributions $7,500 $7,500 $6,500
Annual Contribution Limit $69,000 $66,000 $61,000
Annual Contribution Limit including Catch-Up Contributions $76,500 $73,500 $67,500
Annual Benefit Limit $275,000 $265,000 $245,000
Compensation Limits
Maximum Plan Compensation $345,000 $330,000 $305,000
Income Subject to Social Security $168,600 $160,200 $147,000
Key EE Compensation Threshold $220,000 $215,000 $200,000
Highly Compensated EE Threshold $155,000 $150,000 $135,000
IRA Limits
SIMPLE Plan Elective Deferrals $16,000 $15,500 $14,000
SIMPLE Catch-Up Contributions $3,500 $3,500 $3,000
Individual Retirement Account (IRA) $7,000 $6,500 $6,000
IRA Catch-Up Contribution $1,000 $1,000 $1,000

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