IRS Limits



 

The Internal Revenue Code has limits for qualified 401(k) plans on contributions and compensation used to determine employer contributions.

 

2021 Contribution and Compensation Limits

  • $19,500 - Combined employee pre-tax and after-tax Roth 401(k) contributions

  • $6,500 - Employee catch-up contribution limit if age 50 or older anytime during 2021

  • $58,000 - Total employee plus employer contributions to 401(k) accounts including (does not include any applicable catch-up contributions):

    • Pre-tax contributions

    • Roth 401(k) after-tax contributions

    • Traditional after-tax contributions

    • Employer match/contributions

  • $290,000 – Compensation used to determine maximum employer match and maximum employer contribution (for those who first became a plan participant after December 31, 1995)

  • $430,000 – Compensation used to determine maximum employer match and maximum employer contribution (for those who first became a plan participant before January 1, 1996)

Contribution Rate Change Deadline Schedule

You may make any changes to your contributions, either pre-tax, Roth after-tax or traditional after-tax, through myplan.johnhancock.com or 1-800-294-3575.

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