Key IRS Limits for Retirement Plans

All Retirement Plans

  2024 2023
Highly-Compensated Employee (HCE) Threshold $155,000 $150,000
Key Employee Officer Threshold $220,000 $215,000
Annual Compensation Limit, General Employees $345,000 $330,000
Annual Addition Limit, Defined Contribution Plan $69,000 $66,000
Annual Benefit Limit, Defined Benefit Plan $275,000 $265,000

401(k), 403(b) AND 457(b) PLANS

  2024 2023
Elective Deferrals Contribution Limit $23,000 $22,500
Catch-Up Contribution Limit (Age 50+) $7,500 $7,500

IRAs

  2024 2023
Annual Contribution Limit $7,000 $6,500
Catch-Up Contribution Limit $1,000 $1,000