The 2020 limit for 401(k), 403(b), & 457 plans is $19,500.
The 2020 Catch-up amount for these plans is $6,500
The 2020 limit for Simple IRA and 401(k) is $13,500.
The Catch-up amount for Simple plans is $3,000.
The limit for an SEP or Simplified Employee Pension Plan is the lesser of 25% of compensation or $57,000. Employee contributions are not permitted for SEP plans, only employer contributions are allowed.
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