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.