Monday, December 4, 2017

COST-OF-LIVING ADJUSTMENTS

COST-OF-LIVING ADJUSTMENTS
2018

Pension Plan and Related Limits
2017
2018
Pre-tax elective deferral maximum under IRC § 401(k), 403(b), and 457(b) plans
$18,000
$18,500
Age 50 and older “catch-up” adjustment for 401(k), 403(b), and governmental 457(b) plans and SEPs
$6,000
$6,000
Annual compensation limit under IRC §§ 401(a)(17), 404(l) and 408(k)
$270,000
$275,000
Annual benefit limit for defined benefit plans under IRC § 415(b)
$215,000
$220,000
Annual contribution limit for defined contribution plans under IRC § 415(c)
$54,000
$55,000
Highly compensated employee threshold for purposes of nondiscrimination testing in the following year under IRC § 414(q)(1)(B)
$120,000
$120,000
Key employee threshold for officers for top heavy plan under IRC § 416(i)(1)(A)(i)
$175,000
$175,000
IRC § 430(c)(7)(D)(i)(II) amount for determining excess employee compensation for single-employer defined benefit plans where election has been made
$1,115,000
No longer applicable
ESOP account balance for five-year and one-year distribution rule under IRC § 409(o)(1)(C)(ii)
$1,080,000
and
$215,000
$1,105,000 and
$220,000
Minimum earnings level to qualify for SEP under IRC § 408(k)
$600
$600
SIMPLE plan elective deferral limit under IRC § 408(p)(2)(E)
$12,500
$12,500
SIMPLE plan age 50 catch-up
$3,000
$3,000
Basic IRA/Roth IRA contribution limitation under IRC § 219(b)(5)(A)/§ 408A (age 50 $1,000 catch-up for IRAs does not have cost-of-living adjustment)
$5,500
$5,500
Phase-out for deductions for IRA for married couples filing jointly, in which the spouse who makes the IRA contribution is an active participant in an employer-sponsored retirement plan

$99,000 to $119,000
$101,000 to $121,000
Adjusted gross income (AGI) phase-out range for married joint filers making contributions to a Roth IRA –

For single filers –
$186,000 to $196,000

$62,000 to
$72,000
$189,000 to $199,000

$63,000 to
$73,000
AGI limit for retirement savings contributions (saver's) credit for married couples filing jointly –

For single filers –
$62,000



$31,000
$63,000



$31,500
Health Savings Account contribution limits (single and family)
$3,400 and $6,750
$3,450 and $6,900
PBGC guaranteed benefit (yearly)
$64,432
$65,045
PBGC flat-rate premiums per participant for a single-employer plans
$69
$74
PBGC variable-rate premium for single-employer plans per $1,000 of Unfunded Vested Benefits
$34
$38
PBGC (flat-rate) premiums for multiemployer plans per participant
$28
$28
Taxable wage base subject to FICA tax
$127,200
$128,400



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