The 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
2023 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 |