News

403b/457 contribution limits unchanged in 2021

The IRS recently announced it is not increasing contribution limits for 403b or 457 accounts for the 2021 tax year.

Here’s what that means for participants enrolled in the 403b/457

  • The contribution limit for remains $19,500 in 2021.
  • The age 50 catch-up limit remains $6,500 for 2021. This would make $26,000 the maximum possible contribution for accountholders who are 50 years or older.

If you need more information about 2021 contribution limits or determining if you are eligible for catch-up contributions, please contact your financial advisor.

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