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IRS Limits

On Nov. 1, 2018, the IRS released the cost-of-living adjustments for various retirement plan limitations that will take effect on Jan. 1, 2019. Selected 2018 and 2019 annual limits are provided below.

 

Provision 2018 2019
DC Plan 415(c)(1)(A) Additions $55,000 $56,000
401(k)/403(b) SARSEP Elective Deferrals $18,500  $19,000
457 Deferrals $18,500 $19,000
Age 50 Catch-Ups for 401(k), 403(b) and 457 Plans $6,000 $6,000
Key Employee Income Definition $175,000 $180,000
Highly-Compensated Employee Income Definition $120,000 $125,000
Compensation Limit for Contribution Purposes in accordance with IRC Section 401(a)(17) for Non-Gov. Plan Sponsors $275,000 $280,000
Compensation Limit for Contribution Purposes in accordance with IRC Section 401(a)(17) for Governmental Plan Sponsors   $405,000 $410,000
Maximum Adjusted Gross Income for Saver's Credit $63,000 (joint) $31,500 (single) $47,250 (HoH) $64,000 (joint) $32,000 (single) $48,000 (HoH)
SIMPLE Retirement Accounts $12,500 $13,000
Compensation for SEPs $600 $600
Earning Subject to OASDI Tax $128,400 $132,900

Source: IRS Notice 2017-84 and Notice 2018-83