Retirement Planning Employee/individual contribution limits Elective deferral limits 2024 2025 401(k) plans, 403(b) plans, 457(b) plans, and SAR-SEPs 1 [Includes Roth 401(k) and Roth 403(b) contributions] Lesser of $23,000 or 100% of participant’s compensation Lesser of $23,500 or 100% of participant’s compensation SIMPLE 401(k) plans and SIMPLE IRA plans1 Lesser of $16,000 or 100% of participant’s compensation Lesser of $16,500 or 100% of participant’s compensation SIMPLE 401(k) plans and SIMPLE IRA plans with 25 or fewer employees (or those that elect these higher limits)1 Lesser of $17,600 or 100% of participant’s compensation Lesser of $17,600 or 100% of participant’s compensation Starter 401(k) plans and safe-harbor 403(b) plans Between 3% and 15% of annual compensation up to a maximum of $6,000 ($7,000 if age 50 or older) Between 3% and 15% of annual compensation up to a maximum of $6,000 ($7,000 if age 50 or older) 1 Must aggregate employee contributions to all 401(k), 403(b), SAR-SEP, and SIMPLE plans of all employers. 457(b) plan contributions are not aggregated. For SAR-SEPs, the percentage limit is 25% of compensation reduced by elective deferrals (effectively, a 20% maximum contribution). IRA contribution limits 2024 2025 Traditional IRAs Lesser of $7,000 or 100% of earned income Lesser of $7,000 or 100% of earned income Roth IRAs Lesser of $7,000 or 100% of earned income Lesser of $7,000 or 100% of earned income Additional “catch-up” limits (individuals age 50 or older) 2024 2025 401(k) plans, 403(b) plans, 457(b) plans, and SAR-SEPs2 $7,500 $7,500 *Catch-up limit if age 60 to 63 N/A $11,250 SIMPLE 401(k) plans and SIMPLE IRA plans $3,500 ($3,850 for plans with 25 or fewer employees, or that elect this higher limit) $3,500 ($3,850 for plans with 25 or fewer employees, or that elect this higher limit) *Catch-up limit if age 60 to 63 N/A $5,250 IRAs (traditional and Roth) $1,000 $1,000 2 Special catch-up limits may also apply to 403(b) and 457(b) plan participants. Employer contribution/benefit 3 limits Defined benefit plan limits 2024 2025 Annual contribution limit per participant No predetermined limit. Contributions based on amount needed to fund promised benefits No predetermined limit. Contributions based on amount needed to fund promised benefits. Annual benefit limit per participant Lesser of $275,000 or 100% of average compensation for highest 3 consecutive years Lesser of $280,000 or 100% of average compensation for highest 3 consecutive years Defined contribution plan limits [qualified plans, 403(b) plans, SEP, and SIMPLE plans] 2024 2025 Annual addition limit per participant (employer contributions; employee pre-tax, after-tax, and Roth contributions; and forfeitures) (does not apply to SIMPLE IRA plans) Lesser of $69,000 or 100% (25% for SEP) of participant’s compensation Lesser of $70,000 or 100% (25% for SEP) of participant’s compensation Maximum tax-deductible employer contribution [not applicable to 403(b) plans] 25% of total compensation of employees covered under the plan (20% if self employed) plus any employee pre-tax and Roth contributions; 100% for SIMPLE plans 25% of total compensation of employees covered under the plan (20% if self employed) plus any employee pre-tax and Roth contributions; 100% for SIMPLE plans Pension-linked emergency savings accounts (maximum amount attributable to employee deferrals) $2,500 $2,500 3 For self-employed individuals, compensation generally means earned income. This means that, for qualified plans, deductible contributions for a self-employed individual are limited to 20% of net earnings from self-employment (net profits minus self-employment tax deduction), and special rules apply in calculating the annual additions limit. Compensation limits/thresholds Retirement plan compensation limits 2024 2025 Maximum compensation per participant that can be used to calculate tax-deductible employer contribution (qualified plans and SEPs) $345,000 $350,000 Compensation threshold used to determine a highly compensated employee $155,000 (when 2024 is the look-back year) $160,000 (when 2025 is the look-back year) Compensation threshold used to determine a key employee in a top-heavy plan $1 for more-than-5% owners, $220,000 for officers, $150,000 for more-than-1% owners $1 for more-than-5% owners, $230,000 for officers, $150,000 for more-than-1% owners Compensation threshold used to determine a qualifying employee under a SIMPLE plan $5,000 $5,000 Compensation threshold used to determine a qualifying employee under a SEP plan $750 $750 Traditional deductible IRA income limits — Income phase-out range for determining deductibility of traditional IRA contributions for taxpayers covered by an employer-sponsored plan and filing as: 2024 2025 Single $77,000 – $87,000 $79,000 – $89,000 Married filing jointly $123,000 – $143,000 $126,000 – $146,000 Married filing separately $0 – $10,000 $0 – $10,000 Traditional deductible IRA income limits — Income phase-out range for determining deductibility of traditional IRA contributions for taxpayers not covered by an employer-sponsored retirement plan but filing a: 2024 2025 Joint return with a spouse who is covered by an employer-sponsored retirement plan $230,000 – $240,000 $236,000 – $246,000 Roth IRA compensation limits — Income phase-out range for determining ability to fund Roth IRA for taxpayers filing as: 2024 2025 Single $146,000 – $161,000 $150,000 – $165,000 Married filing jointly $230,000 – $240,000 $236,000 – $246,000 Married filing separately $0 – $10,000 $0 – $10,000 Qualified charitable distribution 2024 2025 Annual amount not includible in gross income $105,000 $108,000 One-time exclusion for transfer to split-interest entity $53,000 $54,000

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