IRS Announces New Benefit Limits for 2018

olga-delawrence-386839On October 19, 2017 the IRS announced 2018 cost-of-living adjustments for annual contribution and other dollar limits affecting 401(k) and other retirement plans.   Salary deferral limits to 401(k) and 403(b) plans increased $500 to $18,500, but other dollar limits remained unchanged, including the compensation threshold for highly compensated employee status. Specifically, an employee will be a highly compensated employee (HCE) in 2018 on the basis of compensation if he or she earned more than $120,000 in 2017.  Citations below are to the Internal Revenue Code.

In a separate announcement, the Social Security Taxable Wage Base for 2018 increased to $128,400 from $127,200.

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Filed under 401(k) Plans, 403(b) Plans, COLA Increases, ERISA, IRA Issues, Nondiscrimination Testing for Qualified Retirement Plans, Profit Sharing Plan, Section 457(b) Plans

One response to “IRS Announces New Benefit Limits for 2018

  1. Gary Lesser

    See chart  FYI. Enjoy.   ~~Gary         Gary S. Lesser, JD GSL Galactic Publishing, LLC 944 Stockton Street Indianapolis, IN 46260-4925 (317) 254-0385 (telephone) (317) 254-0386 (facsimile) GSL Galactic Consulting 

    >`·.¸¸.·´¯`·.¸.·´¯`·…¸>¸. ·´¯`·.¸. , . .·´¯`·.. >`·.¸¸.·´¯`·.¸.·´¯`·…¸>

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