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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 SectionExplanation20192018
402(g)(1) Elective DeferralsMaximum amount employees can contribute to a 401(k) or 403(b) Plan$19,000$18,500
457(b)(2) and 457(c)(1) LimitsMaximum amount an employee and/or employer can contribute to a 457 Plan$19,000$18,500
414(v)(2)(B)(i) Catch-up ContributionsAdditional amount those over age 50 can contribute to a 401(k) or 403(b) plan$6,000$6,000
414(q)(1)(B) Highly Compensated Employee ThresholdCompensation amount used to determine Highly Compensated Employees (Lookback year)$125,000$120,000
415(c)(1)(A) Defined Contribution LimitsAnnual limit on all contributions (employee and employer) for 401(k) and 403(b) plans$56,000$55,000
Annual Compensation LimitMaximum Compensation for Qualified Plan Purposes$280,000$270,000
Taxable Wage BaseSocial Security wage base$132,900$128,400