IRS Inflation Adjusted Limits for 2021

goReport

 

 

 

 

Ernie Guerriero, CLU®,ChFC®,CEBS,CPCU®,CPC®,CMS,AIF®,RICP®,CPFA

The IRS has announced increases in some limits; however, the majority of the limits remain the same.  The 401(k) limit remains at $19,500 and the catch-up limit remains at $6,500.  What has increased:

  • Defined Contribution Annual Addition to $58,000 from $57,000
  • Annual Compensation Limit to $290,000 from $285,000
  • Social Security Wage Base to $142,800 from $137,700

 

Leave a Reply

" "