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2018 IRS Contribution Limits for Supplemental Retirement Plans

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2018 IRS Contribution Limits for Supplemental Retirement Plans

The IRS has announced the 2018 contribution limits for supplemental retirement savings plans.

The limit for contributions to a 403(b), most 457 plans, and the federal government’s Thrift Savings Plan is increased from $18,000 to $18,500.

The catch-up contribution limit for employees aged 50 and over who participate in those plans remains unchanged at $6,000.

• For information on the UW System's Tax-Sheltered Annuity Program (403-b), see UW System TSA Program.

• For information on the State of Wisconsin's Wisconsin Deferred Compensation Program (457), see Wisconsin Deferred Compensation.

Individual Retirement Agreement (IRA) contribution limits remain unchanged from 2017. The basic IRA limit is $5,500 with the age 50 and over catch-up also unchanged at $1,000.

• For more information see 2018 Contribution Limits.

• For a copy of the IRS announcement see IRS Announcement.

The Social Security Administration (SSA) also announced on Oct. 13 that the maximum amount of earnings subject to the Social Security tax (taxable maximum) will increase to $128,700 in 2018, up from the 2017 limit of $127,200.

• For a copy of the SSA announcement, see SSA Announcement.

 

Brown, Reggie
Human Resources & Diversity
11/8/2017

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