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IRS Announces 2018 Pension Plan Limitations

On October 19th, the Internal Revenue Service issued cost of living adjustments affecting the dollar limitations for 401(k) and 403(b) plans in 2018. The elective deferral limit for employees will be increased from $18,000 to $18,500.  There will also be an increase in the Annual Compensation Limit , from $270,000 to $275,000, and in the Annual Defined Contribution Limit, from $54,000 to $55,000. The catch-up contribution limit for those aged 50 and over remains unchanged at $6,000.