On November 1, the Internal Revenue Service (IRS) announced new contribution limits for 401(k) plans in Notice 2024-80, and many plan limits are changing. These adjustments are calculated and released by the IRS each year.
There are several changes in many of the 2025 plan limits so be sure to view a detailed listing below:
PLAN LIMITS | 2025 | 2024 | 2023 |
|---|---|---|---|
401(k)/403(b) Deferrals | $23,500* | $23,000 | $22,500 |
401(k)/403(b) Catch Up | $7,500 | $7,500 | $7,500 |
| 401(k)/403(b) Catch Up – Ages 60-63** | $11,250** | $0 | $0 |
Key Employee | $230,000* | $220,000 | $215,000 |
Highly Compensated Employee | $160,000* | $155,000 | $150,000 |
457 Deferrals | $23,500* | $23,000 | $22,500 |
IRA | $7,000 | $7,000 | $6,500 |
IRA Catch Up | $1,000 | $1,000 | $1,000 |
Defined Contribution | $70,000* | $69,000 | $66,000 |
Defined Benefit | $280,000* | $275,000 | $265,000 |
Includible Compensation | $350,000* | $345,000 | $330,000 |
Tax Credit ESOP Maximum Balance | $1,415,000* | $1,380,000 | $1,330,000 |
Social Security Taxable Wage Base | $176,100* | $168,600 | $160,200 |
SEP Min. Participation Threshold | $750 | $750 | $750 |
SEP Maximum Participation Threshold | $350,000* | $345,000 | $330,000 |
SIMPLE Deferrals | $16,500* | $16,000 | $15,500 |
SIMPLE Plan Catch Up | $3,500 | $3,500 | $3,500 |
Maximum Monthly Social Security | $4,018* | $3,822 | $3,627 |
HSA Individual Contribution | $4,300* | $4,150 | $3,850 |
HSA Family Contribution | $8,550* | $8,300 | $7,750 |
HSA Catch Up Contribution (ages 55+) | $1,000 | $1,000 | $1,000 |
HDHP Minimum Individual Deductible | $1,650* | $1,600 | $1,500 |
HDHP Minimum Family Deductible | $3,300* | $3,200 | $3,000 |
HDHP Out-of-Pocket Maximum - Self | $8,300* | $8,050 | $7,500 |
HDHP Out-of-Pocket Maximum - Family | $16,600* | $16,100 | $15,000 |
Monthly Transit/Van Pooling | $325* | $315 | $300 |
Monthly Qualified Parking | $325* | $315 | $300 |
FSA Medical Maximum Deferral | $3,300* | $3,200 | $3,050 |
Medical FSA Carryover | $660* | $640 | $610 |
FSA Dependent Care Max. Deferral | $5,000 | $5,000 | $5,000 |
| * Indicates a change from 2024 to 2025. **Under SECURE 2.0, a higher catch-up contribution limit may apply for employees aged 60, 61, 62 and 63 as of December 31, 2025. For 2025, this higher catch-up contribution limit is $11,250 instead of $7,500. | |||
Download the complete list of 2025 limitations for benefit plans (PDF).
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