2021 IRS Benefits & Contributions Limits Announced
(Posted on October 26, 2020 by )

irsOn October 26, 2020, the IRS issued IRS Notice 2020-79, announcing the changes in pensions and benefits limits for 2021. The maximum limit on annual additions (primarily to defined contribution plans) rose from $57,000 to $58,000 and the annual limit on compensation taken into account rose from $285,000 to $290,000. Most other limits stayed the same.

A chart showing details, and limits from 1996 to 2021, can be found at this link.