Annual Contribution limitations

The tax law places limits on the dollar amount of contributions to retirement plans and IRAs and the amount of benefits under a pension plan. The Internal Revenue Code (IRC) requires the limits to be adjusted annually for cost-of-living increases. Summit is pleased to present this table for your convenience.


Annual Compensation and Contribution Limits for Qualified Retirement Plans
  2018   2017 2016 2015

401(k) and 403(b) Deferral Limit

18,500   18,000 18,000 18,000

457 Deferral Limit

18,500   18,000 18,000 18,000

401(k), 403(b), 457 Catch-up Contribution Limit

6,000   6,000 6,000 6,000

SIMPLE Deferral Limit

12,500   12,500 12,500 12,500

SIMPLE Catch-up Contribution Limit

3,000   3,000 3,000 3,000

Annual Compensation Limit

275,000   270,000 265,000 265,000

Defined Benefit 415 Limit

220,000   215,000 210,000 210,000

Defined Contribution 415 Limit

55,000   54,000 53,000 53,000

Dollar Limit for HCEs

120,000   120,000 120,000 120,000

Dollar Limit for Key Employee

175,000   175,000 170,000 170,000

Social Security Taxable Wage Base

128,400   127,200 118,500 118,500

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