Retirement Plan Contribution and Benefit Limits
This chart lists the maximum amounts individuals are permitted to contribute to their retirement plans each year.
The effective date for 2013 limits is January 1, 2013.
Maximum Dollar Limits
|
2013
|
2012
|
2011
|
2010
|
|
|
Annual employee contribution limit for 401(k), 403(b), or 457 savings plans |
$17,500
|
$17,000
|
$16,500
|
$16,500
|
| Annual catch-up contribution limit for 401(k), 403(b) or 457 savings plans if employee is age 50 or over |
$5,500
|
$5,500
|
$5,500
|
$5,500
|
|
Maximum annual benefit payable by a defined benefit pension plan |
$205,000
|
$200,000
|
$195,000
|
$195,000
|
| Annual limit for combined employer - employee contributions to a defined contribution plan |
$51,000
|
$50,000
|
$49,000
|
$49,000
|
| Annual contribution limit to an Individual Retirement Account for individuals |
$5,500
|
$5,000
|
$5,000
|
$5,000
|
| Annual catch-up contribution limit for Individual Retirement Accounts for individuals age 50 or over | $1,000 |
$1,000
|
$1,000
|
$1,000
|
| Annual employee contribution for SIMPLE plans | $12,000 |
$11,500
|
$11,500
|
$11,500
|
| Annual catch-up employee contribution for SIMPLE plans if employee is age 50 and over | $2,500 |
$2,500
|
$2,500
|
$2,500
|
|
Maximum monthly amount insured by the Pension Benefit Guaranty Corporation for people retiring at age 65. Find out guarantee limits at other ages. |
$4,790
|
$4,653
|
$4,500
|
$4,500
|
| Maximum amount of wages taxable by Social Security |
$113,700
|
$110,100
|
$106,800
|
$106,800
|
Looking for help with your retirement plan?
If you have a problem with your retirement plan, free help may be available from the U.S. Administration on Aging's network of Pension Counseling and Information Projects. Find help now.
PensionHelp America connects people who need help with their pension, 401(k), and other retirement plans with the pension counseling projects, legal services providers, and government agencies that can help answer their questions. Visit www.pensionhelp.org.
Retirement USA
Retirement USA is a national initiative that is working for a new retirement system that, along with Social Security, will provide universal, secure, and adequate income for future retirees. Visit the website.
Did You Know?
A pension plan is a retirement plan that is sponsored by an employer for the purpose of providing retirement income to employees. The most common type of pension plans is a defined benefit plan. Most defined benefit plans provide retirees with guaranteed lifetime payments.
