The highlights of limitations that changed from 2018 to 2019 include the following:
- The 401(a) annual compensation limit applicable to retirement plans increased from $275,000 to $280,000.
- The elective deferral limit increased from $18,500 to $19,000 and age 50 catch-up limit remains unchanged at $6,000.
- The 415(c) contribution limit applicable to defined contribution retirement plans increased from $55,000 to $56,000.
| 2019 | 2018 | |
| RETIREMENT PLANS | ||
| Annual Compensation Limits For Retirement Program Purposes | 280,000 | 275,000 |
| Elective Deferrals 403(b) – (for under age 50) | 19,000 | 18,500 |
| Catch-up Contributions For 403(b) Plan Participants age 50 and over | 6,000 | 6,000 |
| 457(b) Elective Deferrals | 19,000 | 18,500 |
| Defined Contribution Limits On Maximum Combined Employee/Employer Contributions To Defined Contributions Plans | 56,000 | 55,000 |
| OTHER | ||
| Social Security Taxable Wage Base | 132,900 | 128,400 |
| Medicare Wage Base | No Limit | No Limit |
All figures in US dollars.
Sources: www.irs.gov, www.ssa.gov