2019 Contribution Limits for Retirement Plans and IRA’s

2019 2018 2017 2016 2015
Compensation $280,000 $275,000 $270,000 $265,000 $265,000

Limits on benefits and contributions:

2019 2018 2017 2016 2015
Defined contribution plans $56,000 $55,000 $54,000 $53,000 $53,000
Defined benefit plans $225,000 $220,000 $215,000 $210,000 $210,000
401(k), 403(b) and 457 plan Elective deferrals $19,000 $18,500 $18,000 $18,000 $18,000
SIMPLE plan elective deferrals $13,000 $12,500 $12,500 $12,500 $12,500
IRA Contribution Limits $6,000 $5,500 $5,500 $5,500 $5,500

Catch-up contribution limits

2019 2018 2017 2016 2015
401(k), 403(b) and 457 plans $6,000 $6,000 $6,000 $6,000 $6,000
SIMPLE plans $3,000 $3,000 $3,000 $3,000 $3,000
IRA $1,000 $1,000 $1,000 $1,000 $1,000

“Highly Compensated” definition

2019 2018 2017 2016 2015
 Income $125,000 $120,000 $120,000 $120,000 $120,000

“Key Employee” definition:

2019 2018 2017 2016 2015
Officer $180,000 $175,000 $175,000 $170,000 $170,000
1% owner $150,000 $150,000 $150,000 $150,000 $150,000

Social Security:

2019 2018 2017 2016 2015
Taxable wage base $132,900 $128,400 $127,200 $118,500 $118,500
Social Security tax rate 6.20% 6.20% 6.20% 6.20% 6.20%
Medicare tax rate 1.45% 1.45% 1.45% 1.45% 1.45%
Combined tax rate 7.65% 7.65% 7.65% 7.65% 7.65%