New Dollar Limits Applicable to Retirement Plans for 2025

Maximum annual compensation that may be taken into account for determining benefits or contributions

$345,000

$350,000

Maximum employee elective deferral contribution amount for employees who participate in 401(k), 403(b) and most 457 plans

$23,000

$23,500

Maximum 401(k) and 403(b) and governmental 457(b) catch-up contribution amount for participants age 50 or older

$7,500

$7,500

Special catch-up provision for participants age 60 through 63*

N/A

$11,250

Defined contribution and SEP maximum annual addition**

$69,000

$70,000

Defined benefit maximum annual benefit

$275,000

$280,000

Key employee officer compensation for top-heavy plan

$220,000

$230,000

Pay threshold for determining highly compensated employee (HCE)

$155,000

$160,000

Deferral Limit for SIMPLE Retirement Accounts

$16,000

$16,500

Age 50+ catch-up limit for SIMPLE Retirement Accounts

$3,500

$3,500

Social Security taxable wage base (FICA)

$168,600

$176,100