The IRS recently released employee benefit plan limits for 2018. There are several changes for 2018.
PLAN LIMITATIONS |
2016 |
2017
|
2018 |
| Annual Compensation Limit | $265,000 | $270,000 | $275,000 |
| Defined Contribution Maximum Annual Contribution | $53,000 | $54,000 | $55,000 |
| Annual §401(k) Employee Deferral Limit | $18,000 | $18,000 | $18,500 |
| Age 50 Catch-up Contributions to §401(k) Plan | $6,000 | $6,000 | $6,000 |
| Highly Compensated Employee Threshold | $120,000 | $120,000 | $120,000 |
| Income subject to Social Security Wage Base | $118,500 | $127,200 | $128,700 |
Please share this information with your payroll personnel so they are aware of these limits.
This information is always available on our website under the Toolkit tab at Benefit Plan Limits.
