| If you would like a printable version of this guide, please email info@bimgroup.us and we will gladly forward one to you.
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| Contribution & Benefit Limits | 2017 Limit | 2018 Limit |
| Section 401(k), 403(b), or 457(b) annual deferral | $18,000 | $18,500 |
| SIMPLE plan annual deferral | $12,500 | $12,500 |
| Section 415 maximums | ||
| Annual benefit from defined benefit plan |
$215,000 | $220,000 |
| Annual additions to defined contribution plan | $54,000 | $55,000 |
| Maximum IRA contribution | $5,500 | $5,500 |
| Catch-up contribution limits | ||
| Retirement plan | $6,000 | $6,000 |
| SIMPLE plan | $3,000 | $3,000 |
| IRA | $1,000 | $1,000 |
| Compensation Amounts | ||
| Annual compensation limit | $270,000 | $275,000 |
| Grandfathered governmental plan participants | $400,000 | $405,000 |
| Highly compensated employees | ||
| any employee* | $120,000** | $120,000** |
| 5 percent owner | no minimum | no minimum |
| * Employer may elect to limit to top-paid 20%
** Due to the look-back rule, applies in determining HCEs during following year |
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| Key employees | ||
| officer | $175,000 | $175,000 |
| 1 percent owner | $150,000 | $150,000 |
| 5 percent owner | no minimum | no minimum |
| Small Employer Health Insurance Credit Average Wage Phase-Out | $26,200 | $26,600 |
| This information is brought to you by your Partner Firm of United Benefit Advisors, the nation’s leading employee benefits advisory organization with more than 200 offices throughout the United States, Canada and the United Kingdom. | ||
| Social Security/Medicare | 2017 Limit | 2018 Limit |
| OASDI taxable wage base | $127,200 | $128,400 |
| OASDI tax rate – employer | 6.2% | 6.2% |
| OASDI tax rate – employee | 6.2% | 6.2% |
| Medicare tax rate – employer | 1.45% | 1.45% |
| Medicare tax rate – employee | 1.45%> | 1.45%> |
| Maximum income without reducing Social Security retirement benefits | ||
| SSRA* or over | no limit | no limit |
| year individual attains SSRA* | $44,880/yr.^ | $45,360/yr.^ |
| under SSRA* | $16,920/yr. | $17,040/yr. |
| > Employer must withhold additional 0.9% from compensation in excess of $200,000
* Social Security Retirement Age (age at which an individual may receive an unreduced monthly benefit) ^ No limit on earnings beginning the month an individual attains SSRA |
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| Health Plan Limits | ||
| Maximum Health FSA | ||
| employee deferral | $2,600 | $2,650 |
| carryover | $500 | $500 |
| Maximum HSA contribution | ||
| individual | $3,400 | $3,450 |
| family | $6,750 | $6,850 |
| catch-up | $1,000 | $1,000 |
| Minimum HDHP deductible | ||
| individual | $1,300 | $1,350 |
| family | $2,600 | $2,700 |
| Maximum HDHP out-of-pocket | ||
| individual | $6,550 | $6,650 |
| family | $13,100 | $13,300 |
| Maximum out-of-pocket (non-grandfathered plans) | ||
| individual | $7,150 | $7,350 |
| family | $14,300 | $14,700 |
| Transitional Reinsurance Fee (per person) | Only paid through the 2016 plan year. | |