Contribution Limits
Annual Dollar Thresholds for Qualified Plans
The table below outlines the current IRS contribution limits that apply to qualified retirement plans.
Please note: This information is provided for general reference and should not be considered a substitute for personalized tax advice. We strongly recommend consulting with a qualified tax advisor before making any contribution decisions.
Description
IRA Contribution Limit
IRA Catch Up (50+ Years Old)
401(K) Deferral
Catch Up (50+ Years Old)
Catch Up (60-63 Years Old)
Section 415 Limit
Defined Benefit Limit
Compensation Limit
SIMPLE Maximum Contributions
SIMPLE Catch Up Contributions
HCE Comp Limit
Key Employee Officer
Max Social Security Taxable Earnings
2024
$7,000
$1,000
$23,000
$7,500
——
$69,000
$275,000
$345,000
$16,000
$3,500
$155,000
$220,000
$168,600
2025
$7,000
$1,000
$23,500
$7,500
$11,250
$70,000
$280,000
$350,000
$16,500
$3,500
$160,000
$230,000
$176,100