cancel
Showing results for 
Search instead for 
Did you mean: 
QuickBooksHelp
Intuit

Benefit Plan Contribution Limits for 2021

Learn about benefit plan contribution limits for 2021.

To ensure continued compliance employers who offer benefit plans need to prepare for plan limit adjustments. We've created a reference guide with the updated benefit plan limits for 2020 and 2021.

Note: The Federal government has not released complete details surrounding contribution limits for all plans. We will continue to monitor and update this section as new details become available.

Benefit plan limits

The following table provides updated benefit plan limits and displays the limits for previous years.

Type2020 - 2021
401(k), 403(b), 457(b), SARSEP 408(b)(6)
$19,500
Catch-Up Contributions (for plan types listed above)$6,500
After-tax Roth 401(k), 403(b), 457(b)$19,500
SIMPLE IRA$13,500
SIMPLE IRA Catch-Up$3,000
Transportation/Transit$270/mo.
Parking$270/mo.
Business Standard Mileage Rate 56 cents/mo.
Health Flexible Spending Accounts$2,750
Social Security Taxable Wage Base$142,800

*Official guidance for adjustments or retroactive increases for benefits:

To learn more about the IRS standard mileage rates, visit IRS issues standard mileage rates for 2020.

Additional information about benefit plan limits

For more information about benefit plans and plan limits, see the following articles:

Was this helpful?

You must sign in to vote, reply, or post
Sign in for the best experience
Ask questions, get answers, and join our large community of QuickBooks users.
Sign In / Sign Up

Need to get in touch?

Contact us