Deferred Compensation Contribution Amounts for 2021
The Deferred Compensation Plan maximum amounts that can be contributed for 2021 is as follows:
- The base maximum contribution is $19,500.
- Participants are allowed to contribute an additional $6,500 in the year they turn age 50 or greater for an annual maximum of $26,000. This represents the annual allowable of $19,500, plus the additional $6,500.
- The catch-up maximum is $39,000. This represents double the annual maximum of $19,500.
For more information, please email the Deferred Compensation Specialist.