EXPRESS REQUESTS

Top resources for your toughest HR questions

2021 IRS Retirement Plan Limits

LIKE SAVE

2021 IRS Retirement Plan Limits
Employee 401(k) contributions for plan year 2021 will once again top off at $19,500 with an additional $6,500 catch-up contribution allowed for those turning age 50 or older. But maximum contributions from all sources (employer and employee combined) will rise by $1,000.

Few defined contribution and defined benefit plan limits will be adjusted upward, the IRS announced on Oct. 26, when it issued Notice 2020-79, with annual cost of living adjustments (COLAs) for employer-sponsored retirement plans and for individual retirement plans (IRAs).


Read the rest of the article:
For 2021, 401(k) Contribution Limit Unchanged for Employees, Up for Employers
SHRM | Oct 2020

IRS releases key retirement plan limits for 2021
Buck Consultants | Oct 2020

Notice 2020-79
Press Release
IRS | Oct 2020

Charts

2021 Benefit Plan Limits and Thresholds Chart
SHRM | Oct 2020

401k and Retirement Plan Limits (2015-2021)
401(k) Help Center | Oct 2020

Related Reading

2021 Wage Cap Rises Modestly for Social Security Payroll Taxes
SHRM | Oct 2020

Fact Sheet: 2021 Social Security Changes
Social Security Administration | Oct 2020

COVID-19 Vaccine Express Requests
Planning Resources and More
Mandating or Not
Providing Incentives
When Employees Refuse It

Index of COVID-19 Express Requests
SHRM | On-going

Member Benefit: Ask-An-Advisor Service
SHRM's HR Knowledge Advisors offer guidance and resources to assist members with their HR inquiries. Reach out now.

SURVEYTell us what you think about the Express Request service in four quick questions.

HR Daily Newsletter

News, trends and analysis, as well as breaking news alerts, to help HR professionals do their jobs better each business day.