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- Save Now vs Save Later
- Retirement Calculators
- How much will I need To Save For Retirement?
- Are my current retirement savings sufficient?
- I’m retired, how long will my savings last?
- Social Security Estimator
- I’m self-employed, how much can I contribute to a retirement plan?
- What is the impact of borrowing from my retirement plan?
- What is the impact of early withdrawal from my 401(k)?
Disclaimer: The information provided by these calculators is for illustrative and general information purposes only and should not be relied upon as a complete an accurate indication of your personal financial needs. Moreover, this information should not be construed as providing any financial, legal or tax advice. You should speak with your financial professional to assist you with making financial decisions and strategies to meet your overall financial needs.
Under Department of Labor regulations, your retirement plan must maintain an ERISA Fidelity Bond. A fidelity bond protects the assets in the plan from misuse or misappropriation by the plan fiduciaries. The bond must be equal to 10% of the value of the total plan assets, with a minimum bond value of $1,000 and a maximum bond value of $500,000.
| Limit | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|
| 401(k) Catch-up Contributions | $6,500 | $6,000 | $6,000 | $6,000 | $6,000 |
| 401(k) Deferrals | $19,500 | $19,000 | $18,500 | $18,000 | $18,000 |
| Compensation Limit | $285,000 | $280,000 | $275,000 | $270,000 | $265,000 |
| Defined Benefit Limit | $230,000 | $225,000 | $220,000 | $215,000 | $210,000 |
| Defined Contribution Limit | $57,000 | $56,000 | $55,000 | $54,000 | $53,000 |
| Highly Compensated Employees | $130,000 | $125,000 | $120,000 | $120,000 | $120,000 |
| SEP Minimum Compensation | $600 | $600 | $600 | $600 | $600 |
| SIMPLE Catch-up Contributions | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 |
| SIMPLE Deferrals | $13,500 | $13,000 | $12,500 | $12,500 | $12,500 |
| Social Security Wage Base | $137,700 | $132,900 | $128,400 | $127,200 | $118,500 |
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