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.
|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|
|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