The IRS released the cost of living adjustments for qualified plan limitations that will take effect on January 1, 2021. There were very few changes this year. However, while deferral limits remain the same, there was an increase to the maximum defined contribution annual addition which means a participant in a 401(k) profit sharing plan could have an overall benefit of $58,000. For those eligible for the Age 50 Catch Up, the maximum benefit jumps to $64,500. Qualified Plan Limits – The Ryding Company – 2021 2021 COLA Tables