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159 West Lancaster Avenue, Suite 3
Paoli, PA 19301
610.240.4740 (Main)
877.240.4740 (Toll Free)
610-240-4743 (Fax)
planting@harvestfp.com

 

Harvest Financial Partners Relationship Summary

Harvest Financial Partners Disclosure Brochure

2020 Contribution Limits

2020 401(k) and 403(b) Limits

 

The elective deferral contribution limit for employees increases to $19,500.

The Catch-Up contribution limit for those 50 and older also increases by $500 to $6,500.

The limit on total annual contributions to all of a participant’s accounts--including elective deferrals, employee contributions, employer matching and discretionary contributions--  increases to $57,000 (or 100% of their income whichever is less). The limit is $63,500 if you are at least 50.