Employee Benefit Limits 2017-2024

The employee benefit limits that follow are indexed annually for inflation, rounded to the increment levels set forth below.Type of Limit2017(Rev. Proc. 2016-55)2018(Rev. Proc. 2017-64)2019 (Rev. Proc. 2018-83)2020(Rev. Proc. 2019-59)2021 (Rev. Proc. 2020-79)2022 (Rev. Proc. 2021-61)2023 (Rev. Proc. 2022-38)2024 (Rev. Proc. 2023-75)Defined Benefit Plans Q 3868$215,000$220,000$225,000$230,000$230,000$245,000$265,000$275,000Defined Contribution Plans Q 3868$54,000 or 100% of pay$55,000 or 100% of pay$56,000 or 100% of pay$57,000 or 100% of pay$58,000 or 100% of pay$61,000 or 100% of pay$66,000 or 100% of pay$68,000 or 100% of payElective Deferral Limit for 401(k) Plans and SAR-SEPs Q 3705, Q 3760$18,000$18,500$19,000$19,500$19,500$20,500$22,500$23,000Elective Deferral Limit for SIMPLE IRAs and SIMPLE 401(k) Plans Q 3706, Q 3760$12,500$12,500$13,000$13,500$13,500$14,000$15,500$16,000Elective Deferral Limit for 457 Plans Q 3584$18,000$18,500$19,000$19,500$19,500$20,500$22,500$23,000Minimum Compensation Amount for SEPs Q 3701$600$600$600$600$650$650$750$750Maximum Compensation Amount for VEBAs Q 4103; SEPs Q 3701; TSAs Q 4033; Qualified Plans Q 3867, Q 3927F$270,000$275,000$280,000$285,000$290,000$305,000$330,000$345,000Catch-up for 401(k) Plans Q 3761$6,000$6,000$6,000$6,500$6,500$6,500$7,500$7,500Catch-up for SIMPLE IRAs and SIMPLE 401(k) Plans Q 3706, Q 3761$3,000$3,000$3,000$3,000$3,000$3,000$3,500$3,500