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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 |