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Annual Limits2018-03-19T14:02:02+00:00

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Annual Limit on Contributions and Compensation

Type of Limitation 2018 2017
Elective Deferrals (401(k), 403(b), 457(b)(2) and 457(c)(1)) $18,500 $18,000
Section 414(v) Catch-Up Deferrals to 401(k), 403(b), 457(b), or SARSEP Plans (457(b)(3) and 402(g) provide separate catch-up rules to be considered as appropriate) $6,000 $6,000
SIMPLE 401(k) or regular SIMPLE plans, Catch-Up Deferrals $3,000 $3,000
415 limit for Defined Benefit Plans $220,000 $215,000
415 limit for Defined Contribution Plans $55,000 $54,000
Annual Compensation Limit $275,000 $270,000
Annual Compensation Limit for Grandfathered Participants in Governmental Plans Which Followed 401(a)(17) Limits (With Indexing) on July 1, 1993 $405,000 $400,000
Highly Compensated Employee 414(q)(1)(B) $120,000 $120,000
Key employee in top heavy plan (officer) $175,000 $175,000
SIMPLE Salary Deferral $12,500 $12,500
Tax Credit ESOP Maximum balance $1,105,000 $1,080,000
Amount for Lengthening of 5-Year ESOP Period $220,000 $215,000
Taxable Wage Base $128,400 $127,200
IRAs for individuals 49 and below $5,500 $5,500
IRAs for individuals 50 and above $6,500 $6,500
FICA Tax for employees and employers 7.65% 7.65%
Social Security Tax for employees and employers 6.20% 6.20%
Medicare Tax for employers and employees 1.45% 1.45%
Additional Medicare Tax* .9% of comp >$200,000 .9% of comp >$200,000

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QPA employees have combined retirement plan experience in excess of 65 years; and employees certified by American Society of Pension Professionals and Actuaries (ASPPA).  We do not limit our client base to the southeastern states, nor do we require a minimum number of participants.