Below is a list of selected IRS limits relating to employee benefits and compensation for 2021. These limits are adjusted periodically to reflect changes in the cost of living.  For selected historical limits, please see the IRS’s website here.

Retirement Amount for 2021
Annual compensation limit, § 401(a)(17)  $290,000
Elective deferrals for 401(k), 403(b) and 457 plans, § 402(g) & § 457(e)  $19,500
Catch-up contributions, § 414(v)  $6,500
Highly compensated employee threshold, § 414(q)  $130,000
Benefits limit for defined benefit plans, § 415(b)  $230,000
Allocation limit for defined contribution plans, § 415(c)  $58,000
Key employee threshold, § 416(i)  $185,000
Health  Amount for 2021
Health flexible spending account limit, § 125(i)  $2,750
HSA contribution limit − self-only coverage, § 223(b)  $3,600
HSA contribution limit − family coverage, § 223(b)  $7,200
High deductible health plan − self-only, § 223(c) $1,400 minimum deductible
$7,000 maximum out-of-pocket
High deductible health plan − family, § 223(c) $2,800 minimum deductible
$14,000 maximum out-of-pocket
Out-of-pocket limits for essential health benefits, §9815(a)(1)/PHSA § 2707(b) $8,550 self-only coverage
$17,100 family coverage
Other  Amount for 2021
Social Security wage base  $142,800
Exclusion for employer-provided mass transit and vanpool benefits, § 132(f)  $270
Exclusion for employer-provided parking, § 132(f)  $270

 

Links to Other Limits:

2020 Federal Income Tax Rates

2020 Federal Poverty Guidelines

PBGC Maximum Guaranteed Benefit Tables

Maximum Social Security Benefits

2020 Covered Compensation Tables