/>iThe Internal Revenue Service has announced the 2025 cost of living adjustments to various limits. The adjusted amounts generally apply for plan years beginning in 2025. Some of the adjusted amounts, however, apply to calendar year 2025. Please click for a printer-friendly version of the table below.
Employee Benefits Plan
|
Plan Year
|
2025
|
2024
|
|---|---|---|
|
401(k), 403(b), 457 deferral limit
|
$23,500
|
$23,000
|
|
Catch-up contribution limit (age 50 or older by end of year)
|
$7,500
|
$7,500
|
|
Catch-up contribution limit (age 60, 61, 62, or 63 by end of year)
|
$11,250
|
N/A
|
|
Annual compensation limit
|
$350,000
|
$345,000
|
|
Annual benefits payable under defined benefit plans
|
$280,000
|
$275,000
|
|
Annual allocations to accounts in defined contribution plans
|
$70,000 (but not more than 100% of compensation)
|
$69,000 (but not more than 100% of compensation)
|
|
Highly compensated employee
|
Compensation more than $155,000 in 2024 plan year
|
Compensation more than $150,000 in 2024 plan year
|
Health Savings Accounts
|
Calendar Year
|
2025
|
2024
|
|---|---|---|
|
Maximum contribution
|
||
|
Family
Self |
$8,550
$4,300 |
$8,300
$4,150 |
|
Catch-up contribution limit (age 55 or older by end of plan year)
|
$1,000
|
$1,000
|
|
Minimum deductible
|
||
|
Family
Self |
$3,300
$1,650 |
$3,200
$1,600 |
|
Maximum out-of-pocket
|
||
|
Family
Self |
$16,600
$8,300 |
$16,100
$8,050 |
Social Security
|
Calendar Year
|
2025
|
2024
|
|---|---|---|
|
Taxable wage base
|
$176,100
|
$168,600
|
|
Maximum earnings without loss of benefits
|
||
|
Under full retirement age
Year you reach full retirement age |
$1,950/mo. ($23,400/yr.)
$5,180/mo. up to mo. of full retirement age ($62,160/yr.) |
$1,860/mo. ($22,320/yr.)
$4,960/mo. up to mo. of full retirement age ($59,520/yr.) |
Social Security Retirement Age
|
Year of Birth
|
Retirement Age
|
|---|---|
|
Prior to 1938
|
Age 65
|
|
1938
|
65 and 2 months
|
|
1939
|
65 and 4 months
|
|
1940
|
65 and 6 months
|
|
1941
|
65 and 8 months
|
|
1942
|
65 and 10 months
|
|
1943 – 1954
|
66
|
|
1955
|
66 and 2 months
|
|
1956
|
66 and 4 months
|
|
1957
|
66 and 6 months
|
|
1958
|
66 and 8 months
|
|
1959
|
66 and 10 months
|
|
1960 and later
|
67
|
