Retirement Plan Design & Administration Services

ANNUAL PLAN LIMITS
  2021 2020 2019
COMPENSATION 290,000 285,000 280,000
LIMITS ON BENEFITS & CONTRIBUTIONS      
DEFINED CONTRIBUTION PLANS 58,000 57,000 56,000
DEFINED BENEFIT PLANS 230,000 230,000 225,000
401(K) - 403(b) - & 457 PLAN ELECTIVE DEFERRALS 19,500 19,500 19,000
SIMPLE PLAN ELECTIVE DEFERRALS 13,500 13,500 13,000
 IRA 6,000 6,000 6,000
CATCH UP CONTRIBUTIONS      
401(K) - 403(b) - & 457 PLANS  6,500 6,500 6,000
SIMPLE PLANS 3,000 3,000 3,000
 IRA 1,000 1,000 1,000
"HIGHLY COMPENSATED" DEFINITION 130,000 130,000 125,000
"KEY EMPLOYEE" DEFINITION      
OFFICER 185,000 185,000 180,000
SOCIAL SECURITY TAXABLE WAGE BASE  142,800 137,700 132,900