What are the annual limits for contributions?

    The IRS updates the annual contribution limits each year. Please visit the 
    IRS for more specifics.

    As of January 1, 2024, the annual limits are:
    • Employee Elective Deferral Limit (a.k.a. 402(g) limit) $23,000 ($22,500 in 2023)
    • Age 50 Employee Catch-Up contribution limit $7,500 ($7,500 in 2023)
    • Employee Elective deferral plus catch-up limit (age 50 or older) $30,500 ($30,000 in 2023)
    • 415(c) defined contribution maximum (employer + employee under age 50) $69,000 ($66,000 in 2023)
    • 415(c) defined contribution maximum (employer + employee age 50 or older) $76,500 ($73,500 in 2023)

    REMEMBER: E​​lective Deferrals must not exceed 100% of the employee's taxable income.


    Clergy Housing Allowance (CHA) dollars are already a non-taxable benefit and cannot simultaneously be deferred as Elective contributions.


    Upcoming for 2025, the annual limits will be:

    • Employee Elective Deferral Limit (a.k.a. 402(g) limit) $23,500
    • Age 50-59 or 64+ Employee Catch-Up contribution limit $7,500
    • New: Age 60-63 Employee Catch-Up contribution limit $11,250



    Published