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ERISA REQUIREMENTS CALENDAR

Last updated January 2021

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Sponsors of defined benefit and defined contribution plans should keep the following deadlines and other important dates in mind as they work toward ensuring compliance for their plans in 2021. Dates assume a calendar year plan. Some deadlines may not apply or may have dates shifted based on your organization’s fiscal year. For additional support, please contact your BDO representative.

Click the red plus signs in the calendar below for details around each deadline.
 
 

CONTRIBUTION PLAN LIMITS AND OTHER ROLLING NOTICES FOR 2021


In addition to those important deadlines and dates, plan sponsors should be aware of the contribution plan limits and other rolling notices for 2021:
  • Employee salary deferral limits for 401(k), 403(b) and 457 plans will be $19,500. Age 50 catch-up contribution limit increases to $6,500.
  • Health Savings Account contribution limit is $3,600 (single) and $7,200 (family). Age 55 catch-up contribution stays at $1,000.
  • Traditional and Roth Individual Retirement Account contribution limit will be $6,000. catch-up contributions for participants age 50 and over is $1,000.
  • Limitation for the annual benefit under a defined benefit plan under Section 415(b)(1)(A) will be $230,000.
  • The dollar amount used to define “highly compensated employee” under Section 414(q)(1)(B) will be $130,000.
  • Newly eligible employees must receive a Summary Plan Description (SPD) within 90 days after becoming covered by the plan.
  • Provide quarterly statements and fee information to participants.
 
 

KEY CONTACTS:

Beth Garner - BDO Atlanta
Beth Garner

Assurance Partner; Employee Benefit Plan Audits National Practice Leader
Luanne MacNicol
Luanne Macnicol

Partner; Central Region Leader, Audits of Employee Benefit Plans
Mary Espinosa
Mary Espinosa

Assurance Director, West Region Practice Leader
Jody Hillenbrand
Jody Hillenbrand

Assurance Director, Southwest Region Practice Leader
Joanne Szupka
Joanne Szupka

Assurance Director; Atlantic Region Practice Leader
Jam Yap - BDO Atlanta
Jam Yap

Assurance Director; Southeast Region Practice Leader
Michael Belonio
Michael Belonio

Assurance Director; Northeast Region Practice Leader