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 Section	Explanation	2022	2021
402(g)(1) Elective Deferrals	Maximum amount employees can contribute to a 401(k) or 403(b) Plan	$20,500	$19,500
457(b)(2) and 457(c)(1) Limits	Maximum amount an employee and/or employer can contribute to a 457 Plan	$19,500	$19,500
414(v)(2)(B)(i) Catch-up Contributions	Additional amount those over age 50 can contribute to a 401(k) or 403(b) plan	$6,500	$6,500
414(q)(1)(B) Highly Compensated Employee Threshold	Compensation amount used to determine Highly Compensated Employees (Lookback year)	$135,000	$130,000
415(c)(1)(A) Defined Contribution Limits	Annual limit on all contributions (employee and employer) for 401(k) and 403(b) plans	$61,000	$58,000
Annual Compensation Limit	Maximum Compensation for Qualified Plan Purposes	$305,000	$290,000
Taxable Wage Base	Social Security wage base	$147,000	$142,800