IRS ANNOUNCES 2018 PLAN CONTRIBUTION AND BENEFIT LIMITS
The highlights of limitations that changed from 2017 to 2018 include the following:
- The 401(a) annual compensation limit applicable to retirement plans increased from $270,000 to $275,000.
- The elective deferral limit increased from $18,000 to $18,500 and age 50 catch-up limit remains unchanged at $6,000.
- The 415(c) contribution limit applicable to defined contribution retirement plans increased from $54,000 to $55,000.
|Annual Compensation Limits For Retirement Program Purposes||275,000||270,000|
|Elective Deferrals 403(b) – (for under age 50)||18,500||18,000|
|Catch-up Contributions For 403(b) Plan Participants age 50 and over||6,000||6,000|
|457(b) Elective Deferrals||18,500||18,000|
|457(b) Catch Up Contribution (Subject To Age And Other Restrictions)||18,500||18,000|
|Defined Contribution Limits On Maximum Combined Employee/Employer Contributions To Defined Contributions Plans||55,000||54,000|
|Social Security Taxable Wage Base||128,700||127,200|
|Medicare Wage Base||No Limit||No Limit|
All figures in US dollars.