On October 19, 2017, the Internal Revenue Service released the 2018 cost-of-living adjustments affecting dollar limits on benefits and contributions for qualified retirement plans. The Notice providing the cost-of-living adjustments is available here. The Service also announced various other inflation adjustments in a new revenue procedure (including an adjustment to the dollar limitation for flexible spending accounts). The Service previously announced the adjustments for Health Savings Accounts earlier this year. Last week, the Social Security Administration also announced its cost-of-living adjustments for the upcoming year.
The following chart summarizes the 2018 limits for benefit plans. The 2017 limits are provided for reference.