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| Type of Limitation | 20231 | 20222 | 20213 | 20204 | 20195 | 20186 | 20177 | 20168 | 20159 | 201410 | 201311 | 201212 | 201113 | 201014 | 200915 | 200816 | 200717 | 200618 | 200519 | 200420 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 |
| Elective Deferrals (401(k) and 403(b); not including adjustments and catch-ups) | $22,500 | $20,500 | $19,500 | $19,500 | $19,000 | $18,500 | $18,000 | $18,000 | $18,000 | $17,500 | $17,500 | $17,000 | $16,500 | $16,500 | $16,500 | $15,500 | $15,500 | $15,000 | $14,000 | $13,000 | $12,000 | $11,000 | $10,500 | $10,500 | $10,000 | $10,000 | $9,500 | $9,500 |
| 457(b)(2) and 457(c)(1) Limits (not including catch-ups) | $22,500 | $20,500 | $19,500 | $19,500 | $19,000 | $18,500 | $18,000 | $18,000 | $18,000 | $17,500 | $17,500 | $17,000 | $16,500 | $16,500 | $16,500 | $15,500 | $15,500 | $15,000 | $14,000 | $13,000 | $12,000 | $11,000 | $8,500 | $8,000 | $8,000 | $8,000 | $7,500 | NA |
| Section 414(v) Catch-Up Deferrals to 401(k), 403(b), 457(b), or SARSEP Plans for Individuals Over Age 5021 | $7,500 | $6,500 | $6,500 | $6,500 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $5,500 | $5,500 | $5,500 | $5,500 | $5,500 | $5,500 | $5,000 | $5,000 | $5,000 | $4,000 | $3,000 | $2,000 | $1,000 | NA | NA | NA | NA | NA | NA |
| Defined Benefit Plans | $265,000 | $245,000 | $230,000 | $230,000 | $225,000 | $220,000 | $215,000 | $210,000 | $210,000 | $210,000 | $205,000 | $200,000 | $195,000 | $195,000 | $195,000 | $185,000 | $180,000 | $175,000 | $170,000 | $165,000 | $160,000 | $160,000 | $140,000 | $135,000 | $130,000 | $130,000 | $125,000 | $120,000 |
| Defined Contribution Plans (annual additions limit) | $66,000 | $61,000 | $58,000 | $57,000 | $56,000 | $55,000 | $54,000 | $53,000 | $53,000 | $52,000 | $51,000 | $50,000 | $49,000 | $49,000 | $49,000 | $46,000 | $45,000 | $44,000 | $42,000 | $41,000 | $40,000 | $40,000 | $35,000 | $30,000 | $30,000 | $30,000 | $30,000 | $30,000 |
| Annual Compensation Limit | $330,000 | $305,000 | $290,000 | $285,000 | $280,000 | $275,000 | $270,000 | $265,000 | $265,000 | $260,000 | $255,000 | $250,000 | $245,000 | $245,000 | $245,000 | $230,000 | $225,000 | $220,000 | $210,000 | $205,000 | $200,000 | $200,000 | $170,000 | $170,000 | $160,000 | $160,000 | $160,000 | $150,000 |
| Annual Compensation Limit for Grandfathered Participants in Governmental Plans Which Followed 401(a)(17) Limits (With Indexing) on July 1, 1993 | $490,000 | $450,000 | $430,000 | $425,000 | $415,000 | $405,000 | $400,000 | $395,000 | $395,000 | $385,000 | $380,000 | $375,000 | $360,000 | $360,000 | $360,000 | $345,000 | $335,000 | $325,000 | $315,000 | $305,000 | $300,000 | $295,000 | $285,000 | $275,000 | $270,000 | $265,000 | NA | NA |
| Highly Compensated Employee (“HCEs”) | $150,000 | $135,000 | $130,000 | $130,000 | $125,000 | $120,000 | $120,000 | $120,000 | $120,000 | $115,000 | $115,000 | $115,000 | $110,000 | $110,000 | $110,000 | $105,000 | $100,000 | $100,000 | $95,000 | $90,000 | $90,000 | $90,000 | $85,000 | $85,000 | $80,000 | $80,000 | $80,000 | NA |
| Key Employee/Officer | $215,000 | $200,000 | $185,000 | $185,000 | $180,000 | $175,000 | $175,000 | $170,000 | $170,000 | $170,000 | $165,000 | $165,000 | $155,000 | $155,000 | $160,000 | $150,000 | $145,000 | $140,000 | $135,000 | $130,000 | $130,000 | $130,000 | NA | NA | NA | NA | NA | NA |
| Individual Retirement Accounts (“IRAs”), for individuals 49 and below | $6,500 | $6,000 | $6,000 | $6,000 | $6,000 | $5,500 | $5,500 | $5,500 | $5,500 | $5,500 | $5,500 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $4,000 | $4,000 | $4,000 | $3,000 | $3,000 | $3,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 |
| Individual Retirement Accounts (“IRAs”), for individuals 50 and above | $7,500 | $7,000 | $7,000 | $7,000 | $7,000 | $6,500 | $6,500 | $6,500 | $6,500 | $6,500 | $6,500 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $5,000 | $5,000 | $4,500 | $3,500 | $3,500 | $3,500 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 |
| SIMPLE Retirement Accounts | $15,500 | $14,000 | $13,500 | $13,500 | $13,000 | $12,500 | $12,500 | $12,500 | $12,500 | $12,000 | $12,000 | $11,500 | $11,500 | $11,500 | $11,500 | $10,500 | $10,500 | $10,000 | $10,000 | $9,000 | $8,000 | $7,000 | $6,500 | $6,000 | $6,000 | $6,000 | $6,000 | NA |
| SEP Coverage | $750 | $650 | $650 | $600 | $600 | $600 | $600 | $600 | $600 | $550 | $550 | $550 | $550 | $550 | $550 | $500 | $500 | $450 | $450 | $450 | $450 | $450 | $450 | $450 | $400 | $400 | $400 | $400 |
| SEP Compensation | $330,000 | $305,000 | $290,000 | $285,000 | $280,000 | $275,000 | $270,000 | $265,000 | $265,000 | $260,000 | $255,000 | $250,000 | $245,000 | $245,000 | $245,000 | $230,000 | $225,000 | $220,000 | $210,000 | $205,000 | $200,000 | $200,000 | $170,000 | $170,000 | $160,000 | $160,000 | $160,000 | $150,000 |
| Tax Credit ESOP Maximum Balance | $1,330,000 | $1,230,000 | $1,165,000 | $1,150,000 | $1,130,000 | $1,105,000 | $1,080,000 | $1,070,000 | $1,070,000 | $1,050,000 | $1,035,000 | $1,015,000 | $985,000 | $985,000 | $985,000 | $935,000 | $915,000 | $850,000 | $850,000 | $830,000 | $810,000 | $800,000 | $780,000 | $755,000 | $735,000 | $725,000 | $710,000 | $690,000 |
| Amount for Lengthening of 5-Year ESOP Period | $265,000 | $245,000 | $230,000 | $230,000 | $225,000 | $220,000 | $215,000 | $210,000 | $210,000 | $210,000 | $205,000 | $200,000 | $195,000 | $195,000 | $195,000 | $185,000 | $180,000 | $175,000 | $170,000 | $165,000 | $160,000 | $160,000 | $155,000 | $150,000 | $145,000 | $145,000 | $140,000 | $135,000 |
| Maximum Amount for Qualified Longevity Annuity Contract Purchases | $155,000 | $145,000 | $135,000 | $135,000 | $130,000 | $130,000 | $125,000 | $125,000 | $125,000 | $125,000 | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA |
| Excess Distribution Threshold | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | $160,000 | $155,000 |
| Qualified Police and Firefighters’ DB Benefit Limit | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | $70,000 | NA |
| Income Subject to Social Security Tax | $160,200 | $147,000 | $142,800 | $137,700 | $132,900 | $128,400 | $127,200 | $118,500 | $118,500 | $117,000 | $113,700 | $110,100 | $106,800 | $106,800 | $106,800 | $102,000 | $97,500 | $94,200 | $90,000 | $87,900 | $87,000 | $84,900 | $80,400 | $76,200 | $72,600 | $68,400 | $65,400 | $62,700 |
| FICA Tax for employers | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% |
| FICA Tax for employees | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 5.65% | 5.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% |
| Social Security Tax for employers | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% |
| Social Security Tax for employees | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 4.20% | 4.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% |
| Medicare Tax for employees and employers22 | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% |
| SECA Tax for self-employed workers | 15.30% | 15.30% | 15.30% | 15.30% | 15.30% | 15.30% | 15.30% | 15.30% | 15.30% | 15.30% | 15.30% | 13.30% | 13.30% | 15.30% | 15.30% | 15.30% | 15.30% | 15.30% | 15.30% | 15.30% | 15.30% | 15.30% | 15.30% | 15.30% | 15.30% | 15.30% | 15.30% | 15.30% |
| Social Security Tax for self-employed workers | 12.40% | 12.40% | 12.40% | 12.40% | 12.40% | 12.40% | 12.40% | 12.40% | 12.40% | 12.40% | 12.40% | 10.40% | 10.40% | 12.40% | 12.40% | 12.40% | 12.40% | 12.40% | 12.40% | 12.40% | 12.40% | 12.40% | 12.40% | 12.40% | 12.40% | 12.40% | 12.40% | 12.40% |
| Medicare Tax for self-employed workers | 2.90% | 2.90% | 2.90% | 2.90% | 2.90% | 2.90% | 2.90% | 2.90% | 2.90% | 2.90% | 2.90% | 2.90% | 2.90% | 2.90% | 2.90% | 2.90% | 2.90% | 2.90% | 2.90% | 2.90% | 2.90% | 2.90% | 2.90% | 2.90% | 2.90% | 2.90% | 2.90% | 2.90% |
12023 limits reflect issuance of IRS Notice 2022-55, 2022–45 I.R.B. 443 (November 7, 2022) and the corresponding Social Security Administration News Release (October 13, 2022).
22022 limits reflect issuance of IRS Notice 2021-61, 2021–47 I.R.B. 738 (November 22, 2021) and the corresponding Social Security Administration News Release (October 13, 2021).
32021 limits reflect issuance of IRS Notice 2020-79, 2020–46 I.R.B. 1014 (November 9, 2020) and the corresponding Social Security Administration News Release (October 13, 2020).
42020 limits reflect issuance of IRS Notice 2019-59, 2019-47 I.R.B. 1091 (November 18, 2019) and the corresponding Social Security Administration News Release (October 10, 2019).
52019 limits reflect issuance of IRS Notice 2018-83, 2018-47 I.R.B. 774 (November 19, 2018) and the corresponding Social Security Administration News Release (October 11, 2018).
62018 limits reflect issuance of IRS Notice 2017-64, 2017-45 I.R.B. 486 (November 6, 2017) and the corresponding Social Security Administration News Release (October 13, 2017), as modified by Updated 2018 Taxable Maximum Amount Announced (November 27, 2017).
72017 limits reflect issuance of IRS Notice 2016-62, 2016-46 I.R.B. 725 (November 14, 2016) and the corresponding Social Security Administration News Release (October 19, 2016).
82016 limits reflect issuance of IRS Notice 2015-75, 2015-46 I.R.B. 668 (November 16, 2015) and the corresponding Social Security Administration News Release (October 15, 2015).
92015 limits reflect issuance of IRS Notice 2014-70, 2014-48 I.R.B. 905 (November 24, 2014) and the corresponding Social Security Administration News Release (October 22, 2014).
102014 limits reflect issuance of IRS Notice 2013-73, 2013-49 I.R.B. 598 (December 2, 2013) and the corresponding Social Security Administration News Release (October 30, 2013).
112013 limits reflect issuance of IRS Notice 2012-67, 2012-50 I.R.B. 671 (December 10, 2012) and the corresponding Social Security Administration News Release (October 18, 2012).
122012 limits reflect issuance of IRS Notice 2011-90, 2011-47 I.R.B. 791 (November 21, 2011) and the corresponding Social Security Administration News Release (October 20, 2011).
132011 limits reflect issuance of IRS Notice 2010-78, 2010-49 I.R.B. 808 (December 6, 2010) and the corresponding Social Security Administration News Release (October 15, 2010).
142010 limits reflect issuance of IRS Notice 2009-94, 2009-50 I.R.B. 848 (December 14, 2009) and the corresponding Social Security Administration News Release (October 15, 2009).
152009 limits reflect issuance of IRS Notice 2008-102, 2008-45 I.R.B. 1107 (November 10, 2008) and the corresponding Social Security Administration News Release (October 16, 2008).
162008 limits reflect issuance of IRS Notice 2007-87, 2007-45 I.R.B. 966 (November 5, 2007) and the corresponding Social Security Administration News Release (October 18, 2007).
172007 limits reflect issuance of IRS Notice 2006-98, 2006-46 I.R.B. 906 (November 13, 2006) and the corresponding Social Security Administration News Release (October 18, 2006).
182006 limits reflect issuance of IRS Notice 2005-75, 2005-45 I.R.B. 929 (November 7, 2005) and the corresponding Social Security Administration News Release (October 14, 2005).
192005 limits reflect issuance of IRS Notice 2004-72, 2004-46 I.R.B. 840 (November 15, 2004) and the corresponding Social Security Administration News Release (October 19, 2004).
202004 limits reflect issuance of IRS Notice 2003-73, 2003-45 I.R.B. 1017 (November 10, 2003) and the corresponding Social Security Administration News Release (October 16, 2003).
21 This number is only the catch-up available under Code section 414(v). Code sections 457(b)(3) and 402(g) provide separate catch-up rules, which must also be considered in appropriate cases.
22 Beginning in 2013, there is also a 0.9 percent Additional Medicare Tax that applies to an individual’s wages, Railroad Retirement Tax Act compensation, and self-employment income that exceeds a threshold amount based on the individual’s filing status. The threshold amounts are $250,000 for married taxpayers who file jointly, $125,000 for married taxpayers who file separately, and $200,000 for all other taxpayers. An employer is responsible for withholding the Additional Medicare Tax from wages or compensation it pays to an employee in excess of $200,000 in a calendar year.