CHANGES IN 2019 ANNUAL RETIREMENT AND RELATED BENEFIT LIMITS

The IRS recently announced the annual qualified retirement and related benefit limits for 2019.  The following is a Desk Reference Summary of the most common limits and how they compare with the limits for 2017 and 2018.

 

2017

2018

2019

Dollar Limit for Defined Benefit Plans

$215,000

$220,000

$225,000

Dollar Limit for Defined Contribution Plans

54,000

55,000

56,000

401(k) and 403(b) Maximum Deferral

18,000

18,500

19,000

Catch-up Contribution for Participants Aged 50 or over (401(k) and 403(b))

6,000

6,000

6,000

Social Security Taxable Wage Base

127,200

128,400

132,900

Maximum Compensation Allowable for Benefit Purposes

270,000

275,000

280,000

Maximum Compensation to Determine Highly Compensated Status

120,000

120,000

120,000

SIMPLE Maximum Deferral

12,500

12,500

13,000

SIMPLE Catch-up Contribution for Participants Aged 50 or over

3,000

3,000

3,000

457 Maximum Deferral

18,000

18,500

19,000

HSA Contribution Limit – Self Only

3,400

3,450

3,500

HSA Contribution Limit – Family

6,750

6,900

7,000

HDHP Minimum Deductibles – Self Only

1,300

1,350

1,350

HDHP Minimum Deductibles – Family

2,600

2,700

2,700

HDHP Out-of-Pocket Maximum – Self Only

6,550

6,650

6,750

HDHP Out-of-Pocket Maximum – Family

13,100

13,300

13,500

 

The Employee Benefits Alert is intended to keep readers current on matters affecting employee benefits, and is not intended to be legal advice.  If you have any questions, please call William S. Carter at 412.566.6016, Kathryn A. English at 412.566.1226, Heather Stone Fletcher at 412.566.6112, Michael J. Herzog at 412.566.6130, Sandra R. Mihok at 412.566.1903, Paul M. Yenerall at 412.566.1944, or any other attorney with whom you have been working.

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Paul M. Yenerall

Member - Pittsburgh