Setrics Tracker
Retirement

2018 Retirement Plan Limits

The IRS released Retirement Plan Limits for 2018.  Below is a summary of the retirement limits for your reference throughout the coming year.You can always view current and prior year limits at nbsbenefits.com/limits.

Code SectionExplanation20232022
402(g)(1) Elective DeferralsMaximum amount employees can contribute to a 401(k) or 403(b) Plan$22,500$20,500
414(q)(1)(B) Highly Compensated Employee ThresholdCompensation amount used to determine Highly Compensated Employees (Lookback year)$150,000$135,000
414(v)(2)(B)(i) Catch-up ContributionsAdditional amount those over age 50 can contribute to a 401(k) or 403(b) plan$7,500$6,500
415(c)(1)(A) Defined Contribution LimitsAnnual limit on all contributions (employee and employer) for 401(k) and 403(b) plans$66,000 $61,000
457(b)(2) and 457(c)(1) LimitsMaximum amount an employee and/or employer can contribute to a 457 Plan$22,500$20,500
Annual Compensation LimitMaximum Compensation for Qualified Plan Purposes$330,000 $305,000
Taxable Wage BaseSocial Security wage base$160,200 $147,000