The IRS has announced the 2019 dollar limitations for retirement plans based on the applicable cost-of-living adjustment guidelines. The annual limit for elective deferrals to 401(k) and 403(b) plans will increase from $18,500 to $19,000, while the annual limit for catch-up contributions for individuals age 50 or over will remain unchanged at $6,000. The Social Security Administration also recently announced that the Social Security wage base will increase from $128,400 for 2018 to $132,900 for 2019.

Listed below are the principal limits applicable for 2019 and 2018.

Limit

2019

2018

Compensation Limit

$280,000

$275,000

Elective Deferrals (401(k), 403(b), 457(b))

$19,000

$18,500

Catch-up Contributions

$6,000

$6,000

Defined Contribution Plan 415 Limit

$56,000

$55,000

Defined Benefit Plan 415 Limit

$225,000

$220,000

Highly Compensated Employee

$125,000

$120,000

Social Security Wage Base

$132,900

$128,400

SIMPLE Plan Limit

$13,000

$12,500

SIMPLE Catch-up Contributions

$3,000

$3,000