Retirement Contribution Limits

The Internal Revenue Service recently announced the 2020 cost-of-living and required statutory limit adjustments applicable to retirement plans. The following limits become effective on January 1, 2020.

Annual Limit per Individual 2019 2020 2021
Elective deferral limit under Code § 402(g) $19,000 $19,500 $19,500
Age 50 catch-up contribution limit under Code § 414(v) $6,000 $6,500 $6,500
Contributions to a defined contribution plan
the lesser of 100% of compensation or:
$56,000 $57,000 $58,000

Contribution Calculator

  • Select which year to calculate contributions
  • Select from "Full Time" or "Part Time"
  • Date Format: MM slash DD slash YYYY
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  • Total earnings should include total salary paid to the minister, including employee contributions to the retirement plan, and the amount the church and minister have designated as housing allowance. Exclude bonuses, salary gross ups provided to assist with Social Security obligations, office or vehicle allowance.
    If 'yes', total earnings will be grossed up 40%
Eligible Pay

Eligible pay is defined as 100% of total earnings, or gross up by 40% if a parsonage is provided

$0

Required Contributions

For calendar year based on hire and termination dates provided.
Contributions payable can be paid semimonthly, monthly, quarterly, or annually

$0

  • The above results may be different if you use other calculation softwares or prorate methodologies
  • Full Time Ministers: 11% of compensation, or current EBPH amount to the RCA 403b Retirement program, whichever is greater.
  • Part Time Ministers: 11% of compensation to the RCA 403b Retirement program (EBPH amount does not apply.)
  • Current Effective Buying Power per Household (EBPH):
    • 2020: $7,061
    • 2021: $7,106