Federal Banking Holidays For 2020/2021

Federal Holiday20202021
News Year’s DayWed, Jan 1Fri. Jan 1
Martin Luther King DayMon, Jan 20Mon, Jan 18
Presidents DayMon, Feb 17Mon, Feb 15
Memorial DayMon, May 25Mon, May 31
Independence Day
(Observed)
Sat, July 4Mon, July 5
Labor DayMon, Sept 7Mon, Sept 6
Columbus DayMon, Oct 12Mon, Oct 11
Veterans DayWed, Nov 11Thu, Nov 11
Thanksgiving DayThurs, Nov 26Thurs, Nov 25
Christmas DayFri, Dec 25Sat, Dec 25

Health Savings Account Limits

Type Of Limit 20192020Increase
HSA Contribution LimitSelf-Only
Family
$3,500
$7,000
$3,500
$7,100
$50
HSA Catch-up ContributionsAge 55+$1,000$1,000No Change
HDHP Minimum DeductibleSelf-Only
Family
$1,350
$2,700
$1,400
$2,800
$50
$100
HDHP Maximum Out-of-PocketSelf-Only
Family
$6,750
$13,500
$6,900
$13,800
$150
$300
ACA Maximum Out-of-PocketSelf-Only
Family
$7,900
$15,800
$8,150
$16,300
$250
$500

401K – 2020 Contribution Limits for Retirement Plans

 202020192018
Compensation$285,000$280,000$275,000
Taxable Wage Base$137,000$132,900$128,400
Highly Compensated Employee (HCE)$130,000$125,000$120,000
Key Employee/Officer$185,000$180,000$175,000

Defined Compensation Limit$57,000$56,000$55,000
Maximum Contributions (401K/403B/457)$19,500$19,000$18,500
Maximum Catch-Up – Age 50+ (401K/403B/457)$ 6,500$6,000$6,000

Defined Benefit Limit$230,000$225,000$220,000
SIMPLE$13,500$13,000$12,500
SIMPLE Catch-Up – Age 50+$3,000$3,000$3,000

IRA Contribution Limit$6,000$6,000$5,500
IRA Catch-Up – Age 50+$1,000$1,000$1,000