2021 Limits Announced

Just released – 2021 Retirement Plan Limits.  There were only a few limits that changed, of note:

• Maximum Compensation Limit increased from $285,000 to $290,000
• Maximum Dollar limit to Defined Contribution Plans increased from $57,000 to $58,000

 
Note that the following limits remain the same for 2021:

• 401(k) calendar year limit of $19,500
• 401(k) calendar year catchup limit of $6,500