Skip to main content
Home
  • Serving the Church
    • Serving the Church
    • Member Stories
      • Share Your Story
    • Workshops
      • Personal Finance
      • Congregational Finance
      • Retirement Planning
      • Planned Giving and Stewardship
    • Annual Conference
      • Fitness Challenge
      • Insight Sessions
    • District Conferences
    • Memorial Tribute
      • Guidelines
    • Ideals
    • About BBT
      • Board of Directors
      • Staff Directory
      • Employment
      • FAQs
      • Location
      • Annual Report
      • Benefit News
      • BBT Alert
  • Investments
    • Brethren Values Investing
      • Screening
      • Department of Defense lists
      • Positive Investment
      • Shareholder Action
    • Investment Managers
      • Separately Managed Funds
      • Mutual Funds
    • Investment Oversight
    • Investment Guidelines
    • Asset Management Performance Report
  • Pension
    • About Us
    • Retirement Readiness Resources
    • Church Workers' Assistance Plan
    • Performance Report
    • Calculators
    • Contribution Limits
    • Pension Forms
    • Pension Perspective Newsletter
    • Web portal
  • Asset Management
    • About Us
    • Client Portal
    • Investment Options
      • Brethren Foundation Funds Inc.
      • BFI Tactical Funds
    • Performance Report
    • Asset Management Forms
    • Investment Perspective Newsletter
  • Deferred Gifts
    • About Us
    • Deferred Gift Options
    • Development Directory
      • Camps
      • Colleges & Universities
      • Denominational Agencies
      • Districts
      • Fellowship of Brethren Homes
      • Other Agencies
    • Deferred Gift Forms
  • Insurance
    • About Us
    • Open Enrollment
      • Dental
      • Vision
      • Disability
      • Life
      • Rates
    • Medical
      • Summary of Benefits and Coverage (SBCs)
      • Summary of Plan Documents
    • Dental and Vision
    • Medicare Supplement
    • Life
    • Accident
    • Long-Term Care
    • Pet Insurance
    • Disability
    • Insurance Forms
    • FAQs
    • Well Now! Newsletter
    • QSEHRA (Healthcare Reimbursement)
    • Brethren FlexCare
  • Forms
    • Pension Forms
    • Asset Management Forms
    • Deferred Gift Forms
    • Other Forms
    • Insurance Forms
  • News & Media
  • Contact Us
  • About Us
  • Retirement Readiness Resources
  • Church Workers' Assistance Plan
  • Performance Report
  • Calculators
  • Contribution Limits
  • Pension Forms
  • Pension Perspective Newsletter
  • Web portal

Contribution Limits

The Internal Revenue Service creates annual limitations on contributions made to qualified retirement plans like Brethren Pension Plan. Here are the main types of contributions, and the limits for 2020 and 2021 —

Elective-deferral contributions — Elective deferrals include both pre-tax and designated Roth contributions an employee makes to an employer-sponsored retirement plan such as a 401(k) or 403(b). (Code § 402(g))

2020 Limit: $19,5002021 Limit: $19,500




Catch-up contributions — If you are 50 years old or older by the end of the calendar year, you may contribute additional funds to your Pension account beyond the elective-deferral contribution limit. (Code § 414(v))

2020 Limit: $6,5002021 Limit: $6,500




Defined contribution plan contributions — The total annual contribution, including pre-tax, tax-paid, and Roth contributions, from both an employer and an employee. The limit is the lesser of the dollar figure below or 100 percent of your pay. (Code § 415(c))

2020 Limit: $57,0002021 Limit: $58,000




Annual compensation limit — The maximum dollar amount that can be taken into consideration when calculating retirement benefit contributions. (Code § 401(a)(17))

2020 Limit: $285,0002021 Limit: $290,000

This Site

  • Home
  • About BBT
  • Contact Us
  • Sitemap

The Denomination

  • Annual Conference
  • Bethany Seminary
  • Church of the Brethren
  • On Earth Peace

Your Account

  • Pension
  • Foundation
  • Insurance

Sign Up For Our Newsletter