IRS Contribution Limits
| IRAs | 2022 | 2021 | 2020 |
|---|---|---|---|
| IRA Contribution Limit | $6,000 | $6,000 | $6,000 |
| IRA Catch-Up Contribution Limit | $1,000 | $1,000 | $1,000 |
| Traditional IRA AGI Deduction Phase-Out Starting at | 2022 | 2021 | 2020 |
| Joint Return | $109,000 | $105,000 | $104,000 |
| Single or Head of Household | $68,000 | $66,000 | $65,000 |
| SEP | 2022 | 2021 | 2020 |
| SEP Minimum Compensation | $650 | $650 | $650 |
| SEP Maximum Contribution | $61,000 | $58,000 | $57,000 |
| SEP Maximum Compensation | $305,000 | $290,000 | $285,000 |
| SIMPLE Plans | 2022 | 2021 | 2020 |
| SIMPLE Maximum Contributions | $14,000 | $13,500 | $13,500 |
| Catch-Up Contributions | $3,000 | $3,000 | $3,000 |
| 401(k), 403(b), Profit-Sharing Plans, etc. | 2022 | 2021 | 2020 |
| Annual Compensation | $305,000 | $290,000 | $285,000 |
| Elective Deferrals | $20,500 | $19,500 | $19,500 |
| Catch-up Contributions | $6,500 | $6,500 | $6,500 |
| Defined Contribution Limits | $61,000 | $58,000 | $58,000 |
| ESOP Limits | $1,230,000 $245,000 | $1,165,000 $230,000 | $1,150,000 $230,000 |
| Other | 2022 | 2021 | 2020 |
| HCE Threshold | $135,000 | $130,000 | $130,000 |
| Defined Benefit Limits | $245,000 | $230,000 | $230,000 |
| Key Employee | $200,000 | $185,000 | $185,000 |
| 457 Elective Deferrals | $20,500 | $19,500 | $19,500 |
| Control Employee (board member or officer) | $120,000 | $115,000 | $115,000 |
| Control Employee (compensation-based) | $145,000 | $235,000 | $230,000 |
| Taxable Wage Base | $142,000 | $142,800 | $137,700 |