IRS Contribution Limit Changes for 2018

The IRS recently announced changes to the contribution limits for retirement plans effective starting 2018.  One major change is an increase in the annual contribution limit from $18,000 to $18,500 for 401(k)/457/403(b) plans – the catch-up contribution limit for employees age 50 or older will remain the same ($6,000) in 2018.  Below is a table summarizing the major changes for 2018.

Contribution Increases 2018

About Patrick Melvin Jr.

Patrick D. Melvin Jr., is a Wealth Manager at Independence Advisors, LLC. Pat models client’s financial plans and works with the firm’s clients on financial planning areas such as retirement planning, investment planning and estate planning. CLICK HERE TO ASK PAT.

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