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IRS Benefit Plan Limitations for 2020

Earlier this week, the Internal Revenue Service issued the various retirement plan limitations for 2020.  There are changes to some of the most important limitations from 2019:

  • Elective Deferral Limit $19,500 (increased from $19,000 in 2019)
  • Catch-Up Contributions $6,500 (increased from $6,000 in 2019)
  • 415 (Total) Plan Limit $57,000 (increased from $56,000 in 2019)
  • Compensation Limit $285,000  (increased from $280,000 in 2019)

See an up-to-date chart that shows the historical limits from 2016 through 2020, and a reference to the IRS sources.

For more information regarding these updates, please contact Matthew J. Flanary at
(262) 364-0253 or at mflanary@buelowvetter.com.

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