Section 415(d) of the Internal Revenue Code requires that the Commissioner annually examine the dollar limitations on benefits and contributions under qualified retirement plans for cost-of-living increases. Please reference the charts below with the updated IRS limits for 2018.
| IRS Cost-of-Living Adjustments for 2017 – 2018 | ||
| IRS Limit |
2018 |
2017 |
| 401(k), SARSEP & 403(b) Plan Deferral Limits |
$18,500 / $6,000* Catch-up |
$18,000 / $6,000 Catch-up |
| 457 Plan Deferral Limit |
$18,500 / $6,000* Catch-up |
$18,000 / $6,000 Catch-up |
| SIMPLE IRA Plan Deferral Limits |
$12,500* / $3,000* Catch-up |
$12,500 / $3,000 Catch-up |
| Defined Contribution Dollar Limit |
$55,000 |
$54,000 |
| Defined Benefit Dollar Limit |
$220,000 |
$215,000 |
| Section 401(a)(17) Compensation Limit |
$275,000 |
$270,000 |
| Highly Compensated Employee Compensation |
$120,000* |
$120,000 |
| Key Employee Officer Compensation |
$175,000* |
$175,000 |
*Unchanged from 2017 limits.
| Social Security Cost-of-Living Adjustments for 2017 – 2018 | ||
| IRS Limit |
2018 |
2017 |
| Social Security Taxable Wage Base |
$128,700 |
$127,200 |