Annual Compensation Limits
Section 415 of the Internal Revenue Code provides for dollar limitations on benefits and contributions under qualified retirement plans. The table below shows compensation limits for the Defined Benefit and the Combined Plan and converted compensation limits from IRS contribution limits for the Defined Contribution Plan.
| Defined Benefit Plan | Defined Contribution Plan | Combined Plan | ||||
|---|---|---|---|---|---|---|
| Fiscal Year | For new members on or after July 1, 1996 | For members before July 1, 1996 | For new members on or after July 1, 1996 | For members before July 1, 1996 | For new members on or after July 1, 1996 | For members before July 1, 1996 |
| 2024–2025 | $345,000 | $505,000 | $275,010* | $275,010* | $345,000 | $505,000 |
| 2023–2024 | $330,000 | $490,000 | $275,010 | $275,010 | $330,000 | $490,000 |
| 2022–2023 | $305,000 | $450,000 | $263,053 | $263,053 | $305,000 | $450,000 |
| 2021–2022 | $290,000 | $430,000 | $259,244 | $259,244 | $290,000 | $430,000 |
| 2020–2021 | $285,000 | $425,000 | $246,494 | $246,494 | $285,000 | $425,000 |
| 2019–2020 | $280,000 | $415,000 | $242,244 | $242,244 | $280,000 | $415,000 |
| 2018–2019 | $275,000 | $405,000 | $237,994 | $237,994 | $275,000 | $405,000 |
| 2017–2018 | $270,000 | $400,000 | $233,744 | $233,744 | $270,000 | $400,000 |
| 2016–2017 | $265,000 | $395,000 | $229,787 | $229,787 | $265,000 | $395,000 |
| 2015–2016 | $265,000 | $395,000 | $235,556 | $235,556 | $265,000 | $395,000 |
| 2014–2015 | $260,000 | $385,000 | $246,512 | $246,512 | $260,000 | $385,000 |
| 2013–2014 | $255,000 | $380,000 | $253,659 | $253,659 | $255,000 | $380,000 |
| 2012–2013 | $250,000 | $375,000 | $248,780 | $248,780 | $250,000 | $375,000 |
| 2011–2012 | $245,000 | $360,000 | $243,902 | $243,902 | $245,000 | $360,000 |
| 2010–2011 | $245,000 | $360,000 | $239,024 | $239,024 | $245,000 | $360,000 |
| 2009–2010 | $245,000 | $360,000 | $239,024 | $239,024 | $245,000 | $360,000 |
| 2008–2009 | $230,000 | $345,000 | $230,000 | $239,024 | $230,000 | $345,000 |
| 2007–2008 | $225,000 | $335,000 | $224,390 | $224,390 | $225,000 | $335,000 |
| 2006–2007 | $220,000 | $325,000 | $214,634 | $214,634 | $220,000 | $325,000 |
| 2005–2006 | $210,000 | $315,000 | $204,878 | $204,878 | $210,000 | $315,000 |
| 2004–2005 | $205,000 | $305,000 | $200,000 | $200,000 | $205,000 | $305,000 |
| 2003–2004 | $200,000 | $300,000 | $195,121 | $195,121 | $200,000 | $300,000 |
| 2002–2003 | $200,000 | $295,000 | $200,000 | $202,020 | $200,000 | $295,000 |
| 2001–2002 | $170,000 | $285,000 | $170,000 | $176,768 | $170,000 | $285,000 |
| 2000–2001 | $170,000 | $275,000 | ||||
| 1999–2000 | $160,000 | $270,000 | ||||
| 1998–1999 | $160,000 | $265,000 | ||||
| 1997–1998 | $160,000 | $261,600 | ||||
| 1996–1997 | $150,000 | $247,600 | ||||
| 1995–1996 | $247,600 | |||||
These amounts are based on compensation limits under 401(a)(17) and contribution limits** under 415(c) of the Internal Revenue Code. If an amount is not shown, annual compensation limits were not applicable for that time period.
*Amounts have not been updated by the IRS for the 2024–2025 fiscal year. Amounts to be revised when available.
**Contribution limits have been converted to compensation amounts for convenience.