401(k), Simple IRA and HSA Plan Contribution Limits

Retirement Plan Limits




2020 2019 2018
401(k), 403(b), 457(b) $19,500 $19,000 $18,500
401(k), 403(b), 457(b) Catch-up Contribution (ages 50 and older) $6,500 $6,000 $6,000
SIMPLE IRA $13,500 $13,000 $12,500
SIMPLE IRA Catch-up Contribution (ages 50 and older) $3,000 $3,000 $3,000

Catch-up participants: Please alert your account manager if your employees wish to participate in the catch-up limit. We will review your employee's settings to ensure their birthdate is properly stored and their deferral settings will auto-rollover into the higher limit once the base limit is reached.

See IRS Retirement Topics for more details.


HSA Plan Limits

2020 2019 2018
HSA Single (self-only plans) $3,550 $3,500 $3,450
HSA Family $7,100 $7,000 $6,900
HSA Catch-up Contribution (ages 55 and older) $1,000 $1,000 $1,000

HSA limits are based on the combined total of employee deductions and employer match amounts. The sum of each will be shown in box 12 with a "W" listed as HSA employer contributions on form W2 as these deductions are withheld pretax under a Section 125 cafeteria plan.

Catch-up participants: Please alert your account manager if your employees wish to participate in the catch-up limit. We will review your employee's settings to ensure their birthdate is properly stored and their deferral settings will auto-rollover into the higher limit once the base limit is reached.

See IRS RP-18-30 for more details.


Source: IRS COLA Increases for Dollar Limitations on Benefits and Contributions

Did that address your question? If not, Contact Us Contact Us