Resources
Important Dates:
- Return the census by January 31st
- ADP/ACP refund deadline March 15th
- Form 5500 due July 31st without extensions for calendar year plans
- Form 5500 due October 15th with an extension for calendar year plans (we file extensions automatically for you as needed)
- Safe Harbor Notices: must be handed out to participants by November 30th for calendar year plans
Table of Annual Limits
| LIMITATION | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Elective Deferrals §§401(k)/403(b), §402(g)(1) | 23,000 | 22,500 | 20,500 | 19,500 | 19,500 |
| Elective Deferrals §457(b) Plan | 23,000 | 22,500 | 20,500 | 19,500 | 19,500 |
| Age 50+ Catch-Up §414(v)(2)(B)(i) | 7,500 | 7,500 | 6,500 | 6,500 | 6,500 |
| Defined Contribution Plans §415(c)(1)(A) | 69,000 | 66,000 | 61,000 | 58,000 | 57,000 |
| Defined Benefit Plan Limit §415(b)(1)(A) | 275,000 | 265,000 | 245,000 | 230,000 | 230,000 |
| Annual Compensation Limit §401(a)(17) | 345,000 | 330,000 | 305,000 | 290,000 | 285,000 |
| Highly Compensated Employee §414(q)(1)(B) | 155,000 | 150,000 | 135,000 | 130,000 | 130,000 |
| SIMPLE Maximum Contribution §408(p)(2)(E) | 16,000 | 15,500 | 14,000 | 13,500 | 13,500 |
| Age 50+ SIMPLE Catch-Up §414(v)(2)(B)(ii) | 3,500 | 3,500 | 3,000 | 3,000 | 3,000 |
| Key Employees §416(i)(1)(A)(i) | 220,000 | 215,000 | 200,000 | 185,000 | 185,000 |
| IRA/Roth Contribution Limit §219(b)(5)(A) | 7,000 | 6,500 | 6,000 | 6,000 | 6,000 |
| IRA/Roth Catch-Up Limit §219(b)(5)(B) | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 |