Compensation – Maximum amount of compensation that may be used for retirement plan purposes (contribution allocations, benefit accruals, testing, etc.)
HCE (Highly Compensated Employee) Compensation – Amount of compensation earned in the look-back year to deem that individual highly compensated for the current plan year
Key/Officer – Amount of compensation earned by an officer of a business to deem that individual a Key employee for top heavy purposes
SSTWB (Social Security Taxable Wage Base) – Maximum earned gross income on which Social Security taxes (other than Medicare) are imposed
401(k) / 457 / 403(b) Deferrals –Maximum amount an individual may defer on a pre-tax (or Roth) basis to a 401(k), 457 or 403(b) plan for the calendar year
Catch-Up Deferrals – Maximum amount an individual (age 50 or more by end of the calendar year) may defer over the normal deferral limits above
Annual Additions – Maximum amount an individual may have allocated to their account in a defined contribution retirement plan (including employee deferrals, employer contributions and forfeiture reallocations)
Annual Benefit – Maximum amount an individual can receive in a defined benefit plan calculated as an annual benefit at retirement
SIMPLE Deferrals – Maximum amount an individual may defer to a SIMPLE 401(k) plan or IRA
SIMPLE Catch-Up – Maximum amount an individual (age 50 or more by end of the calendar year) may defer over the normal SIMPLE deferral limits above
