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% |