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2018 Benefit Limits Announced

Hodgson Russ Employee Benefits Newsletter
October 27, 2017

The Internal Revenue Service and Social Security Administration have announced the cost of living adjusted dollar limits applicable to benefit plans. A listing of key limits is set out below:

 

2017 LIMIT

2018 LIMIT

401(k)/403(b)/457 plan maximum elective deferral

$18,000

$18,500

401(k)/403(b)/457 Catch-up

$6,000

$6,000

Defined contribution maximum annual addition

$54,000

$55,000

Defined benefit maximum annual pension

$215,000

$220,000

Qualified plans maximum compensation limit

$270,000

$275,000

Highly Compensated Employee

$120,000

$120,000

IRA Limit

$5,500

$5,500

IRA Catch-up

$1,000

$1,000

SIMPLE Limit

$12,500

$12,500

SIMPLE Catch-up

$3,000

$3,000

Social Security Taxable Wage Base

$127,200

$128,700