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The City of Lexington
We are lucky to call the beautiful city of Lexington, Kentucky our home. As the reigning “Horse Capital of the World,” Lexington has more than 400 horse farms and was the first city in the United States to host the World Equestrian Games. Home to the University of Kentucky, Big Blue Nation is in full effect here and fiercely loyal of the Wildcats. Lexington is also home to Transylvania University, a liberal arts college in the heart of downtown. Transylvania was the first university in Kentucky and among the oldest in the United States. Our city has been nationally recognized as a top community for retirement (Forbes & CNN Money), homebuyers (Movo Real Estate), jobs (Forbes), and college towns (Livability.com). Although our office is located here in Lexington, we are proud to serve employers all over the commonwealth state and southern Ohio and Indiana.
| 2019 | 2020 | Retirement Plans |
|---|---|---|
| $280,000 | $285,000 | Maximum Plan Compensation |
| $132,900 | $137,700 | Social Security Taxable Wage Base |
| $125,000 | $130,000 | Highly Compensated Employee |
| $56,000 | $57,000 | Maximum Defined Contribution |
| $19,000 | $19,500 | Maximum 401(k), 403(b) Deferrals |
| $13,000 | $13,500 | SIMPLE Deferral Limit |
| $6,000 | $6,500 | 401(k), 403(b) Catch-up Deferrals |
| $3,000 | $3,000 | SIMPLE Catch-up Contribution |
| 2019 | 2020 | Health Savings Account (HSA) |
|---|---|---|
| $3,500 | $3,550 | Single Coverage |
| $7,000 | $7,100 | Family Coverage |
| $1,000 | $1,000 | Catch-up Contribution (55 & Over) |
| 2019 | 2020 | Flexible Spending Account (FSA) |
|---|---|---|
| $2,700 | $2,750 | Maximum Contribution |
| $2,500 | $2,500 | DCAP - Individual |
| $5,000 | $5,000 | DCAP - Couple |
| $14,080 | $14,300 | Adoption Assistance Limits |
| 2020 | Qualified Small Employer Health Reimbursement Arrangement (QSEHRA)Flexible Spending Account (FSA) |
|---|---|
| $5,250 | Single Reimbursement |
| $10,600 | Family Reimbursement |
