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Annual Contribution Limits

Category

2023

2022

2021

2020

401(k) Contributions

$22,500

$20,500

$19,500

$19,500

“Catch-Up” Contributions

$7,500

$6,500

$6,500

$6,500

Highly Compensated Employees

+

Top 20%

Optional

Optional

Optional

Optional

All Others

$150,000

$135,000

$130,000

$130,000

Compensation Limits

$330,000

$305,000

$290,000

$285,000

Defined Contribution Limit

$66,000

$61,000

$58,000

$57,000

Defined Benefit Limit

$265,000

$245,000

$230,000

$230,000

Social Security

+

OASDI Wage

$160,200

$147,000

$142,800

$137,700

OASDI Tax – Employer

6.20%

6.20%

6.20%

6.20%

OASDI Tax – Employee

6.20%

6.20%

6.20%

6.20%

HI Wage

No Limit

No Limit

No Limit

No Limit

HI Tax

1.45%

1.45%

1.45%

1.45%