In 2020, several of the Cafeteria Plan and Retirement Plan annual limits are increasing. Check out the new limits below!

Annual Limits
2019
2020
401(k), 403(b), 457 Deferral $19,000  $19,500
401(k), 403(b), 457 “Catch-Up”  $6,000  $6,500
415 Defined Contribution Plan $56,000 $57,000
415 Defined Annual Compensation $280,000 $285,000
IRA Contribution  $6,000  $6,000
IRA “Catch-Up”  $1,000  $1,000
SIMPLE 401(k) $13,000 $13,500
SIMPLE “Catch-Up”  $3,000  $3,000
Social Security Wage Base $132,900 $137,700
Health Flexible Spending Arrangement $2,700 $2,750
HSA “Catch-Up” $1,000  $1,000
HSA Single Contribution $3,500 $3,550
HSA Family Contribution $7,000 $7,100
QSEHRA Self-Only Coverage $5,150 $5,250
QSEHRA Family Coverage $10,450 $10,600
EBHRA N/A $1,800

 

Questions? Contact one of our Third Party Administrators.