Retirement Plan Contribution Limits
Your retirement plan can help you prepare for the future you envision. Pretax contributions to an employer’s tax-deferred plan can potentially help reduce your current taxable income while saving dollars for retirement that otherwise would have gone to pay taxes.
The table below shows the maximum contributions allowable for most plan types as well as a number of plan thresholds.
Plan Type and Limitation
403(b), 401(k) or SARSEP employee elective salary deferral limit
457(b) deferral limit
403(b), 457(b), 401(k), SARSEP age 50 or older catch-up limit*
403(b) service-based catch-up for employees with 15 or more years of service who work for a qualifying employer and have undercontributed in prior years
457(b) service-based catch-up for employees who have undercontributed in prior years and are within the last three taxable years ending the year before the year they attain normal retirement age as specified under the plan
457(b) plan participants who are eligible for both the age-based and service-based contributions cannot combine the two catch-up amounts, but may contribute up to the higher amount
Traditional and Roth IRA contribution limit
Traditional and Roth IRA age 50 or older catch-up limit
SIMPLE IRA/401(k) salary deferral limit
SIMPLE IRA/401(k) age 50 or older catch-up
Highly compensated minimum salary
401(a)(17) compensation limit (the limit that may be considered under a tax-qualified plan unless grandfathered government plan)
Defined contribution plan 415 limit (the limit on total employer and employee contributions, whether elective or not)
Defined benefit plan 415 limit
Social Security wage base
* Note: You can’t use both the 457(b) service-based catch-up provision and the age-based catch-up provision in the same year. However, you can use whichever is greater. Please note that the age-based catch-up provision is not available to participants in nongovernmental 457(b) plans.
For individuals contributing to multiple plans, the limits are not per plan but apply across all plans.
This material is general in nature, was developed for educational use only, and is not intended to provide ﬁnancial, legal, ﬁduciary, accounting or tax advice, nor is it intended to make any recommendations. Applicable laws and regulations are complex and subject to change. Please consult with your ﬁnancial professional regarding your situation. For legal, accounting or tax advice consult the appropriate professional.
Securities and investment advisory services oﬀered through VALIC Financial Advisors, Inc., member FINRA, SIPC and an SEC-registered investment adviser. Annuities are issued by The Variable Annuity Life Insurance Company, Houston, TX. Variable annuities are distributed by Corebridge Capital Services, Inc., member FINRA. All companies above are wholly owned subsidiaries of Corebridge Financial, Inc. Corebridge Retirement Services, Corebridge Financial and Corebridge are marketing names used by these companies.