Many key dollar limits on retirement plans will remain the same in 2021 over 2020.
The maximum 401(k) contribution stays at $19,500. People born before 1972 can contribute an extra $6,500. These limits apply to 403(b) and 457 plans as well.
The cap on SIMPLEs is $13,500. Individuals age 50 and up can put in $3,000 more.
Anyone making over $130,000 is highly paid for discrimination testing. Some amounts are higher.
The pay-in limitation for defined-contribution plans rises to $58,000. And retirement plan pay-ins can be based on up to $290,000 of salary.