The IRS recently announced 2021 limits affecting retirement plans and other qualified savings vehicles. Most notable are changes to the annual compensation limit, 415 annual additions limit, and the social security taxable wage base. SYM reviews IRS limits each year and applies the information to the financial strategies that are in place for its clients. As always, feel free to contact us with any questions on this IRS 2021 limits table.

401(k) Related Limits20212020
401(k) Elective Deferrals$19,500$19,500
401(k) Catch-up Contribution Limit$6,500$6,500
415 Annual Additions Limit$58,000$57,000
Annual Compensation Limit$290,000$285,000
Social Security Taxable Wage Base$142,800$137,700
Non-401(k) Related Limits
403(b) Elective Deferrals$19,500$19,500
403(b) Catch-up Contribution Limit$6,500$6,500
SIMPLE Deferrals$13,500$13,500
SIMPLE Catch-up Contribution Limit$3,000$3,000
IRA Contribution Limit$6,000$6,000
IRA Catch-up Contribution Limit$1,000$1,000
SEP Minimum Compensation$650$600
SEP Annual Compensation Limit$290,000$285,000


Questions?  Reach out to your SYM team at 800-888-7968.  We are here to help.

Disclosure: The opinions expressed herein are those of SYM Financial Corporation (“SYM”) and are subject to change without notice. This material is not financial advice or an offer to sell any product. SYM reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs. SYM is an independent investment adviser registered under the Investment Advisers Act of 1940, as amended. Registration does not imply a certain level of skill or training. More information about SYM including our investment strategies, fees and objectives can be found in our ADV Part 2, which is available upon request. SYM-20-108