Back
Details on DC Plan Limits for 2020

The IRS has announced the updated retirement plan limits for 2020. Here are the notable limits for defined contribution (DC) plans:

  • The annual contribution limit will increase from $19,000 to $19,500.
  • The age 50 annual catch-up contribution limit will increase from $6,000 to $6,500, the first increase since 2015.
  • The annual compensation limit will increase from $280,000 to $285,000.
  • The Section 415(c) limit will increase from $56,000 to $57,000.
  • The highly compensated employee threshold will increase from $125,000 to $130,000.

For more information, visit the IRS website.