401(k) Employee deferral remains at $19,500.
401(k) Catch-up (age 50 yrs and older) remains at $6,500.
401(k) max limit employee + employer (age 49 and younger) $58,000.
401(k) max limit employee + employer (includes catch-up for age 50 and older) $64,500.
401(k) Employee compensation limit for calculating contributions increased to $290,000.
401(k) Key employees’ compensation threshold for nondiscrimination testing remains at $185,000.
401(k) Highly compensated employee (HCE) threshold for nondiscrimination testing remains at $130,000.
SIMPLE Employee deferral remains at $13,500.
SIMPLE Catch-up remains at $3,000.
SEP minimum compensation threshold increased to $650 (from $600).
SEP maximum compensation limit increased to $290,000 (from $285,000).
IRA Contribution limit remains at $6,000.
IRA Catch-up contributions (age 50 yrs and older) remains at $1,000.
Sources:
https://www.irs.gov/pub/irs-drop/n-20-79.pdf
https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-401k-and-profit-sharing-plan-contribution-limits
https://www.shrm.org/resourcesandtools/hr-topics/benefits/pages/2021-irs-401k-contribution-limits.aspx
