Annual Limits

Annual Limits

Annual Contribution Rates

On an annual basis, the IRS announces cost-of-living adjustments applicable for qualified retirement plans and IRAs. Some plan limits remain unchanged because the increase in the Consumer Price Index does not meet the thresholds for their adjustments, while others rise. For 2018, highlights include an increase if the Maximum Annual Contribution Limit for 401(k), 403(b) and 457 plans from $18,000 to $18,500 and an increase in the Annual Compensation Limit from $270,000 to $275.000.

Michigan Pension & Financial is pleased to offer this chart for your reference.

 

Annual Compensation and Contribution Limits for Qualified Retirement Plans

2018 2017 2016 2015
401(K) and 403(b) Deferral Limit 18,500 18,000 18,000 18,000
457 Deferral Limit 18,500 18,000 18,000 18,000
401(k), 403(b), 457 Catch-up Contribution Limit 6,000 6,000 6,000 6,000
SIMPLE Deferral Limit 12500 12,500 12,500 12,500
SIMPLE Catch-up Contribution Limit 3,000 3,000 3,000 3,000
Annual Compensation Limit 275,000 270,000 265,000 265,000
Defined Benefit 415 Limit 220,000 215,000 210,000 210,000
Defined Contribution 415 Limit 55,000 54,000 53,000 53,000
Dollar Limit for HCEs 120,000 120,000 120,000 120,000
Dollar Limit for Key Employee 175,000 175,000 170,000 170,000
Social Security Taxable Wage Base 128,700 127,200 118,500 118,500

Annual Contribution Rates

On an annual basis, the IRS announces cost-of-living adjustments applicable for qualified retirement plans and IRAs. Some plan limits remain unchanged because the increase in the Consumer Price Index does not meet the thresholds for their adjustments, while others rise. For 2018, highlights include an increase if the Maximum Annual Contribution Limit for 401(k), 403(b) and 457 plans from $18,000 to $18,500 and an increase in the Annual Compensation Limit from $270,000 to $275.000.

Michigan Pension & Financial is pleased to offer this chart for your reference.

 

Annual Compensation and Contribution Limits for Qualified Retirement Plans

401(K) and 403(b) Deferral Limit
2018 18,500
2017 18,000
2016 18,000
2015 18,000
457 Deferral Limit
2018 18,500
2017 18,000
2016 18,000
2015 18,000
401(k), 403(b), 457 Catch-up Contribution Limit
2018 6,000
2017 6,000
2016 6,000
2015 6,000
SIMPLE Deferral Limit
2018 12,500
2017 12,500
2016 12,500
2015 12,500
SIMPLE Catch-up Contribution Limit
2018 3,000
2017 3,000
2016 3,000
2015 3,000
Annual Compensation Limit
2018 275,000
2017 270,000
2016 265,000
2015 265,000
Defined Benefit 415 Limit
2018 220,000
2017 215,000
2016 210,000
2015 210,000
Defined Contribution 415 Limit
2018 55,000
2017 54,000
2016 53,000
2015 53,000
Dollar Limit for HCEs
2018 120,000
2017 120,000
2016 120,000
2015 120,000
Dollar Limit for Key Employee
2018 175,000
2017 175,000
2016 170,000
2015 170,000
Social Security Taxable Wage Base
2018 128,700
2017 127,200
2016 118,500
2015 118,500

These are IRS limits. We, however, know no limits to keeping our clients satisfied.

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