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
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.