310 Grant Street, Suite 1005
Pittsburgh, PA 15219
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Jack Owen’s Tax-Exempt Alert

NOVEMBER 2018

 

 

2019 Changes in Annual Qualified Retirement Plan Benefit Limits

 

 

The IRS recently announced the new annual qualified retirement plan benefit limits for 2019.  Set forth in the table below is a summary of the most relevant new limits for 2017 – 2019.

 

These lists are mainly of interest to those of you familiar with retirement plans.  If you do not understand the types of retirement plans referred to below or have any other questions regarding retirement plans in general, please contact our office for more information. Thank you.

 

 

 

 

2017

 

2018

 

2019

 

415 Limit for Defined Benefit Plans

 

$215,000

 

$220,000

 

$225,000

 

415 Limit for Defined Contribution Plans

 

54,000

 

55,000

 

56,000

 

401(k) and 403(b) Maximum Deferral

 

18,000

 

18,500

 

19,000

 

Catch-up Contributions (age 50 and over)

 

6,000

 

6,000

 

6,000

 

Social Security Taxable Wage Base

 

127,200

 

128,700

 

132,300

 

Maximum Compensation Allowable for

Benefit Purposes

 

270,000

 

275,000

 

280,000

 

Compensation For Highly Compensated

Employee (“HCE”) Status

 

120,000

 

120,000

 

125,000

 

SIMPLE Maximum Deferral

 

12,500

 

12,500

 

13,000

 

457 Maximum Deferral

 

18,000

 

18,500

 

19,000