Estimated inflation adjustments for 2025 limits?

[Peter Gulia]

Has anyone done a projection or estimate for 2025’s inflation-adjusted elective-deferral limit?

And for the two (50-, 60-63) age-based catch-up limits?

[Lois Baker]

Milliman has been publishing estimates throughout this year; most recent update was issued August 15.

[John Feldt ERPA CPC QPA]

Today's CPI-U was issued for August. One more month to go for the full limit change to be known.
Here's what we have if the September CPI-U is exactly the same as August:

2025 Estimated limits and the unrounded values:

414(v) Age 50 Catchup: $7,500 (unrounded 7,993) to become $8000, I think the annual inflation rate for September would need to be about 3.165%

402(g) limit: $23,500 (unrounded 23,979) to become $24,000, I think the annual inflation rate for September would need to be about 3.165%

401(a)(17) Comp limit: $350,000 (unrounded 354,080) to become 355,000, I think the annual inflation rate for September would need to be over 9.772%

415 DC annual addition limit: $70,000 (unrounded 70,816)

415 DB limit: $280,000 (unrounded 283,264)

416(i) Key Employee: $230,000 (unrounded 230,152)

414(q)(1) HCE: unchanged: $155,000 (but unrounded 159,992) to become $160,000, the annual inflation rate for September only needs to be just over 0.24%

[Peter Gulia]

If the § 402(g) limit becomes $24,000 and the § 414(v)(2)(B)(i) limit becomes $8,000, the elective-deferral limit for an early 60s participant would be $36,000 ($24,000 + ($8,000 x 150%)).

[Lois Baker]

Here are Mercer's projections.