Announcing 2018 Retirement Plan Contribution Limits

Every year, the Internal Revenue Service reviews the dollar limitations for retirement plans and other similar items and announces cost of living adjustments.

For calendar year 2018, many limitations are changing. The table below provides key limits for 2018 and 2017:

Item

2018

2017

401(k)/403(b) Elective Deferrals

$18,500

$18,000

Annual Compensation Limit

$275,000

$270,000

Annual Contribution Limit

$55,000

$54,000

Annual Benefit Limit

$220,000

$215,000

Highly Compensated Employee (SBJPA Simplified Definition)

$120,000

$120,000

Social Security Wage Base

$128,400

$127,200

Catch-Up Contributions

$6,000

$6,000

 

For more information as well as the complete IRS announcement:

IRS Notice 2017-64 issued October 19, 2017

2018 Social Security COLA (Updated December 14, 2017)

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Important Legal Disclosures and Information

The PNC Financial Services Group, Inc. (“PNC”) uses the marketing names PNC Retirement Solutions® and Vested Interest® for defined contribution plan services and investment options provided through its subsidiary, PNC Bank, National Association (“PNC Bank”), which is a Member FDIC. PNC Bank also provides custody, escrow, and directed trustee services; FDIC-insured banking products and services; and lending of funds. Insurance products may be provided through PNC Insurance Services, LLC, a licensed insurance agency affiliate of PNC, or through licensed insurance agencies that are not affiliated with PNC; in either case a licensed insurance affiliate may receive compensation if you choose to purchase insurance through these programs. A decision to purchase insurance will not affect the cost or availability of other products or services from PNC or its affiliates. PNC does not provide legal, tax, or accounting advice unless, with respect to tax advice, PNC Bank has entered into a written tax services agreement. PNC does not provide services in any jurisdiction in which it is not authorized to conduct business.

“Vested Interest” and “PNC Retirement Solutions” are registered service marks of The PNC Financial Services Group, Inc.

Investments: Not FDIC Insured. No Bank Guarantee. May Lose Value.