The IRS and DOL require certain annual reporting and filings in order to keep your retirement plan qualified. Additionally, the contributions to retirement plans are limited based on those published annually by the IRS and DOL.
| Qualified Plan Limitations |
2019 |
2018 |
2017 |
| Annual Compensation (Plan Years Beginning) |
$280,000 |
$275,000 |
$270,000 |
| Elective Deferrals |
$19,000 |
$18,500 |
$18,000 |
| Catch-up Contributions |
$6,000 |
$6,000 |
$6,000 |
| Highly Compensated Employee Threshold |
$125,000 |
$120,000 |
$120,000 |
Defined Contribution Plan Annual
Addition (Limitation years ending) |
$56,000 |
$55,000 |
$54,000 |
| Key Employee (Officer threshold) |
$180,000 |
$175,000 |
$175,000 |
| Social Security (Taxable) Wage Base |
$132,900 |
$128,400 |
$127,200 |
| Defined Benefit Maximum Annual Benefit |
$225,000 |
$220,000 |
$215,000 |