Each year the U.S. government adjusts the limits for qualified plans and Social Security to reflect cost-of-living adjustments and changes in the law. Many of these limits are based on the "plan year" as defined in the plan document. The elective deferral and catch-up limits are always based on the calendar year.
| 2025 | 2024 | 2023 | |
| Compensation | $350,000 | $345,000 | $330,000 |
| Limits on benefits and contributions: | |||
| Defined contribution plans | $70,000 | $69,000 | $66,000 |
| Defined benefit plans | $280,000 | $275,000 | $265,000 |
| 401(k), 403(b) and 457 plan elective deferrals | $23,500 | $23,000 | $22,500 |
| SIMPLE plan elective deferrals | $16,500 | $16,000 | $15,500 |
| IRA | $7,000 | $7,000 |
$6,500 |
| Catch-up contributions: | |||
| 401(k), 403(b) and 457 plans | $7,500 | $7,500 |
$7,500 |
| SIMPLE plans | $3,500 | $3,500 | $3,000 |
| IRA | $1,000 | $1,000 | $1,000 |
| "Highly Compensated" definition | $160,000 | $155,000 | $150,000 |
| "Key Employee" definition: | |||
| Officer |
$230,000 | $220,000 | $215,000 |
| 1% owner | $150,000 | $150,000 | $150,000 |
| Social Security taxable wage base | $176,100 | $168,600 | $160,200 |