• 401(k)
  • Profit Sharing
  • Cash balance
  • Defined Benefit
  • Compliance & Due Diligence
  • Actuarial & Fiduciary Services

Qualified Plan Limits

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  2019 2018
Elective Deferrals (401(k) and 403(b); not including adjustments and catch-ups) $19,000 $18,500
457(b)(2) and 457(c)(1) Limits (not including catch-ups) $19,000 $18,500
Section 414(v) Catch-Ups Deferrals to 401(k) 403(b), or SEP Plans $6,000 $6,000
Limitation on annual benefits under Defined Benefit Plans under Sec. 415(b)(1)(A) $225,000 $220,000
Limitation for Defined Contribution Plans under Sec. 415(c)(1)(A) $56,000 $55,000
Annual Compensation Limit under Sections 401(a)(17), 404(l), 408(k)(3)(C) $280,000 $275,000
Annual Compensation Limit for Grandfathered Participants in Governmental Plans Which Followed 401(a)(17) Limits (With Indexing) on July 1, 1993 $415,000 $405,000
Highly Compensated Employee under Sec. 414(q)(1)(B) $125,000 $120,000
Limitation under Sec. 408(p)(2)(E) regarding SIMPLE Retirement Accounts $13,000 $12,500
Minimum compensation required to be eligible for SEP IRA $600 $600
Maximum compensation that can be considered for SEP IRA $280,000 $275,000
Dollar amount under Sec. 409(o)(1)(C)(ii) for determining the maximum account balance in an ESOP $1,130,000 $1,105,000
Dollar amount used to determine the Lengthening of 5-Year ESOP Period $225,000 $220,000
Income Subject to Social Security Tax $132,900 $128,400
Social Security Tax for employees 6.20% 6.20%
Social Security Tax for self-employed workers 12.40% 12.40%
Medicare tax for employees and employers on earnings up to $200,000 ($250,000 if filing jointly) 1.45% 1.45%
Medicare tax for self-employed workers on earnings up to $200,000 ($250,000 if filing jointly) 2.90% 2.90%
Additional Medicare tax for employees and/or self-employed workers on earnings in excess of $200,000 ($250,000 if filing jointly) 0.90% 0.90%
FICA Tax for employees and employers 7.65% 7.65%
FICA Tax for self-employed workers 15.30% 15.30%

The information presented here is not intended to be a comprehensive analysis. CohnReznick Benefits Consultants is a benefits advisory firm and does not provide tax or legal advice. Individuals or Employers should consult with qualified legal and/or tax counsel for guidance in respect of matters of law, tax, and related regulation.

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