Each year the IRS announces cost of living adjustments for qualified retirement plans. Great Lakes is pleased to present the current year limits as well as the prior three years below.

 

 
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