A 457(b) plan’s annual contributions and other additions (excluding earnings) to a participant’s account cannot exceed the lesser of:
- 100% of the participant's includible compensation, or
- the elective deferral limit ($19,500 in 2020 and $19,000 in 2019).
Increases to the general annual contribution limit:
457(b) plans of state and local governments may allow catch-up contributions for participants who are aged 50 or older.
Special 457(b) catch-up contributions, if permitted by the plan, allow a participant for 3 years prior to the normal retirement age (as specified in the plan) to contribute the lesser of:
Twice the annual limit $39,000 in 2020 and $38,000 in 2019, or
The basic annual limit plus the amount of the basic limit not used in prior years (only allowed if not using age 50 or over catch-up contributions)