IRS contribution limits for 457(b) plans

As you close out 2019, be sure your payroll software has been set with the correct limits for 457(b) plans for 2019 based on age for your employees. Limits are based on employee AND employer contributions. The 2019 limits for 457(b) plans are:

  • $19,000 for participants under 50
  • $25,000 for participants age 50 and older (special catch-up* limit: $38,000)

These limits apply for both the pre-tax and the after-tax 457(b) plans. If participants split their contributions between the pre- and after-tax options, the amounts will be combined and must stay within the applicable annual limit.

2020 457(b) contribution limits

The IRS has published retirement plan contribution limits for 2020. Following are the published limits. This information also is posted for employees participants on our website here.

According to IRS requirements for 2020, “a 457(b) plan’s annual contributions and other additions (excluding earnings) to a participant’s account cannot exceed”:

  • $19,500 for participants under 50
  • $26,000 for participants age 50 and older (special catch-up* limit: $39,000)

* Eligible participants may be able to contribute up to twice the annual limit as special catch-up contributions for three years before the normal retirement age specified in a 457(b) plan. Participants should contact CRA to discuss eligibility if they are interested in special catch-up contributions.

Share this article
Blog Category

Other Resources

Recent Articles

Are You On Track for Retirement

Close Menu

Log in

Questions about your account?

Office Closure Notice

Colorado Retirement Association will be closed from 3 p.m. MT on Friday, Feb. 14, through Monday, Feb. 17, in observance of President’s Day.

Given the financial markets also will be closed for President’s Day, CRA’s recordkeeper will be closed on Feb. 17 with the exception of the service center, which will be open from 7 a.m. to 5 p.m. MT and can be reached at 800.352.0313.

Transactions requested after market close on Friday, Feb. 14, will be initiated on Tuesday, Feb. 18. CRA’s offices will reopen for standard business hours on Feb. 18.

Get a Free Review of Your Existing Plan

We'll show you how to improve!