Insights
Client Alert: Dollar Limitations for Employee Benefit Plans and Social Security
Client Alerts
Employee Benefits & Executive Compensation
The IRS annually adjusts the dollar limits for contributions and benefits in retirement and certain deferred compensation plans and for health and welfare plans. The IRS recently announced the new dollar limits for 2019. Listed below are the key limits.
|
|
2019 Limit |
2018 Limit |
|
401(k), 403(b) and 457(b) Elective Deferral Limit |
$19,000 |
$18,500 |
|
Age 50 Catch-Up Contribution Limit (unchanged) |
$6,000 |
$6,000 |
|
Highly Compensated Employee Compensation Threshold |
$125,000 |
$120,000 |
|
Maximum Compensation Used to Determine Contributions and Benefits |
$280,000 |
$275,000 |
|
Defined Contribution Plan Annual Contribution Limit |
$56,000 |
$55,000 |
|
Defined Benefit Plan Annual Benefit Limit |
$225,000 |
$220,000 |
|
Top Heavy Key Employee Threshold |
$180,000 |
$175,000 |
|
Health FSA |
$2,700 |
$2,650 |
|
Dependent Care FSA (unchanged) |
$5,000 |
$5,000 |
|
Health Savings Accounts |
Single/Family |
Single/Family |
|
Maximum Contributions |
$3,500/$7,000 |
$3,450/$6,900 |
|
Catch-Up Contributions (unchanged) |
$1,000/$1,000 |
$1,000/$1,000 |
|
Minimum Deductibles (unchanged) |
$1,350/$2,700 |
$1,350/$2,700 |
|
Maximum Out-of-Pocket |
$6,750/$13,500 |
$6,650/$13,300 |
If you have any questions about this Alert, please feel free to call (919.781.4000) or e-mail your Wyrick Robbins contact or one of the following members of our Employee Benefits and Executive Compensation group: Gray Hutchison (ghutchison@wyrick.com) or San Parikh (sparikh@wyrick.com).