While the 2018 annual contribution and benefit limits have not changed significantly from last year here are a few of the highlights:
- The 401(k) & 403(b) maximum annual elective deferral limit increased to $18,500
- The defined benefit annual limit has increase to $220,000
- The annual defined contribution limit has increased to $55,000
- The annual compensation limit increased to $275,000
- The income subject to social security tax increased to $128,700