Recently, the Internal Revenue Service ("IRS") announced the cost-of-living adjustments affecting the dollar limitations for retirement plans for tax year 2018. At this time, we recommend that every plan sponsor conduct a "mini-audit" of their 401(k) plan to ensure that the proper plan limits are being utilized and that the plan is being administered in accordance with the plan documents, especially related to the plan's definition of compensation. The new plan dollar limits are: