| Code Section | Explanation | 2020 | 2019 |
|---|---|---|---|
| 402(g)(1) Elective Deferrals | Maximum amount employees can contribute to a 401(k) or 403(b) Plan | $19,500 | $19,000 |
| 457(b)(2) and 457(c)(1) Limits | Maximum amount an employee and/or employer can contribute to a 457 Plan | $19,500 | $19,000 |
| 414(v)(2)(B)(i) Catch-up Contributions | Additional amount those over age 50 can contribute to a 401(k) or 403(b) plan | $6,500 | $6,000 |
| 414(q)(1)(B) Highly Compensated Employee Threshold | Compensation amount used to determine Highly Compensated Employees (Lookback year) | $130,000 | $125,000 |
| 415(c)(1)(A) Defined Contribution Limits | Annual limit on all contributions (employee and employer) for 401(k) and 403(b) plans | $57,000 | $56,000 |
| Annual Compensation Limit | Maximum Compensation for Qualified Plan Purposes | $285,000 | $280,000 |
| Taxable Wage Base | Social Security wage base | $137,700 | $132,900 |
| Benefits | 2020 | 2019 |
|---|---|---|
| Maximum Health FSA Election | $2,750 | $2,700 |
| Maximum Dependent Care FSA Election | $5,000 | $5,000 |
| HSA Max. Contribution (Single) | $3,550 | $3,500 |
| HSA Max. Contribution (Family) | $7,100 | $7,000 |
| HSA Catch-Up Contribution (55 and over) | $1,000 | $1,000 |
| HDHP Min. Annual Deductible (Single) | $1,400 | $1,350 |
| HDHP Min. Annual Deductible (Family) | $2,800 | $2,700 |
| HDHP Out of Pocket Max. (Single) | $6,900 | $6,750 |
| HDHP Out of Pocket Max. (Family) | $13,800 | $13,500 |
| Parking Max. Monthly Reimbursement | $270 | $265 |
| QSEHRA Max. Reimbursement (Single) | $5,250 | $5,150 |
| QSEHRA Max. Reimbursement (Family) | $10,600 | $10,450 |
| Transit Max. Monthly Reimbursement | $270 | $265 |
| Mileage Rate (for medical treatment) | TBA | $0.20/mi. |
| Highly Compensated Employee | $185, 000 | $180,000 |
