| | | | | | | 2024 | 2023 | 2022 | 401(k), 403(b), Profit-Sharing Plans, 457 etc. | Annual Compensation for Contributions | 345,000 | 330,000 | 305,000 | Elective Deferrals | 23,000 | 22,500 | 20,500 | Catch-up Contributions | 7,500 | 7,500 | 6,500 | Defined Contribution Maximum | 69,000 | 66,000 | 61,000 | ESOP Contribution Maximum (Account balance/Lengthening determination) | 1,380,000
/275,000 | 1,330,000
/265,000 | 1,230,000
/245,000 | Other | HCE Threshold (Highly Compensated Employee) | 155,000 | 150,000 | 135,000 | Defined Benefit Maximum | 275,000 | 265,000 | 245,000 | Key Employee | 220,000 | 215,000 | 200,000 | Control Employee (board member or officer) | 135,000 | 130,000 | 120,000 | Control Employee (compensation-based) | 275,000 | 265,000 | 245,000 | Taxable Wage Base | 168,600 | 160,200 | 147,000 | IRAs | IRA Contribution Maximum | 7,000 | 6,500 | 6,000 | IRA Catch-Up Contributions | 1,000 | 1,000 | 1,000 | Traditional IRA AGI Deduction Phase-out Starting at | Joint Return | 123,000 | 116,000 | 109,000 | Single or Head of Household | 77,000 | 73,000 | 68,000 | SEP IRA | SEP Minimum Compensation | 750 | 750 | 650 | SEP Maximum Contribution | 69,000 | 66,000 | 61,000 | SEP Maximum Compensation | 345,000 | 330,000 | 305,000 | SIMPLE IRA | SIMPLE Maximum Contributions | 16,000 | 15,500 | 14,000 | SIMPLE Catch-up Contributions | 3,500 | 3,500 | 3,000 |
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