2021 BENEFIT PLAN LIMITS & THRESHOLDS CHART
[Pages:1]2021 BENEFIT PLAN LIMITS & THRESHOLDS CHART
2021 Benefit Plan Limits & Thresholds Chart
Defined Contribution Plans
Maximum employee elective deferral
2021
$19,500
Employee catch-up contribution (if age 50 or older by year-end)
Defined contribution maximum limit, all sources (employee + employer)
Defined contribution maximum limit (if age 50 or older by year end); maximum contribution all sources plus catch-up
Employee compensation limit for calculating contributions
$6,500 $58,000 $64,500 $290,000
Key employees' compensation threshold for nondiscrimination testing
Highly compensated employees' threshold for nondiscrimination testing
Source: IRS Notice 2020-79.
$185,000 $130,000
2020
$19,500 $6,500 $57,000 $63,500 $285,000 $185,000 $130,000
Change
no change no change +$1,000 +$1,000 +$5,000 no change no change
Health Savings Accounts (HSAs) and High-Deductible Health Plans (HDHPs)
HSA contribution limit (employer + employee)
HSA catch-up contributions (age 55 or older) HDHP minimum deductibles
HDHP maximum out-of-pocket amounts (deductibles, co-payments and other amounts, but not premiums) Source: IRS Notice 2020-32.
2021
Self-only: $3,600 Family: $7,200 $1,000
Self-only: $1,400 Family: $2,800 Self-only: $7,000 Family: $14,000
2020
Self-only: $3,550 Family: $7,100 $1,000
Self-only: 1,400 Family: $2,800 Self-only: $6,900 Family: $13,800
Change
Self-only: +$50 Family: +$100 no change
no change no change Self-only: +100 Family: +$200
Health Care Flexible Spending Accounts (Health FSAs) and Limited-Scope (Vision/Dental) FSAs
Maximum salary deferral contribution
2021
$2,750
2020
$2,750
Change
no change
Source: IRS Notice 2020-45.
Earnings Subject to Social Security Payroll Tax
Social Security (FICA) Payroll Tax
Maximum earnings subject to Social Security 12.4% FICA payroll tax (6.2% paid by employer and 6.2% paid by employee)
Source: Social Security Administration.
2021
$142,800
2020
$137,700
Change
+$5,100
20-2405
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