RETIREMENT PLAN BENEFITS AND LIMITS

Type 2017 2018
Traditional and Roth IRA contribution $5,500 $5,500
Traditional and Roth IRA catch-up contribution $1,000 $1,000
SIMPLE IRA and SIMPLE 401(k) salary deferral $12,500 $12,500
SIMPLE IRA and SIMPLE 401(k) catch-up contribution (50 years old & above) $3,000 $3,000
401(k), 403(b), 457(b), and SARSEP salary deferral contribution $18,000 $18,500
401(k), 403(b), 457(b), and SARSEP catch-up contribution (50 years old & above) $6,000 $6,000
SEP minimum compensation $600 $600
SEP maximum compensation $270,000 $275,000
Retirement Savings Contribution Credit
Married filing jointly $62,000 $63,000
Married filing separately and Single $31,000 $31,500
Head of Household $46,500 $47,250
Annual addition/contribution limit under a defined contribution plan or SEP IRA $54,000 $55,000
Annual benefit under a defined benefit plan $215,000 $220,000
Compensation cap $270,000 $275,000
Key Employee definition $175,000 $175,000
Highly compensated employee definition $120,000 $120,000
Social Security (FICA) wage base $127,200 $128,400