2020 Defined Contribution Plan Limits
Maximum employee elective deferral (401(k), 403b, 457)
$19,500
Employee catch-up contribution (if age 50 or older by year-end)
$6,500
Defined contribution maximum limit, all sources
$57,000
Defined contribution maximum limit (if age 50 or older by year end); maximum contribution all sources plus catch-up
$63,500
Employee compensation limit for calculating contributions
$285,000
Compensation limit of "key employees" in a top-heavy plan
$185,000
Compensation limit of "highly compensated employees" in a top-heavy plan (HCE threshold)
$130,000
2020 contribution limits (pdf)
DownloadDownload one of the attached files (Retirement Plan Basic Information Sheet - for small businesses with employees, or OwnerOnly version if you are interested in a solo 401(k) and do not have employees outside of an owner or a spouse). Complete the form and email to stacy@retiresolutions.net or fax to 904-287-2745 to request a quote.
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