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401(k) retirement plan contribution limit increases for 2018; most other limits are stagnant

Posted by Melanie Posted on Dec 29 2017

Retirement plan contribution limits are indexed for inflation, but with inflation remaining low, most limits are unchanged for 2018. The only limits that have increased are for 401(k)s, from $18,000 to $18,500, and defined contribution plans, from $54,000 to $55,000. Limits for SIMPLEs and IRAs remain at $12,500 and $5,500, respectively. Catch-up contributions (for taxpayers age 50 or older) remain at $6,000 for 401(k)s, $3,000 for SIMPLEs and $1,000 for IRAs. Additional factors may affect how much you’re allowed to contribute. Check with us for more details

 

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