Future Planning Associates, Inc.




 

Annual Plan Limits

Each year the U.S. government adjusts the limits for qualified plans and Social Security to reflect cost-of-living adjustments and changes in the law. Many of these limits are based on the "plan year" as defined in the plan document. The elective deferral and catch-up limits are always based on the calendar year.

2019 2018 2017
Compensation $280,000 $275,000 $270,000
Limits on benefits and contributions:
  • Defined contribution plans
$56,000 $55,000 $54,000
  • Defined benefit plans
$225,000 $220,000 $215,000
  • 401(k), 403(b) and 457 plan elective deferrals
$19,000 $18,500 $18,000
  • SIMPLE plan elective deferrals
$13,000 $12,500 $12,500
  • IRA
$6,000 $5,500 $5,500
Catch-up contributions:
  • 401(k), 403(b) and 457 plans
$6,000 $6,000 $6,000
  • SIMPLE plans
$3,000 $3,000 $3,000
  • IRA
$1,000 $1,000 $1,000
"Highly Compensated" definition $125,000 $120,000 $120,000
"Key Employee" definition:
  • Officer
$180,000 $175,000 $175,000
  • 1% owner
$150,000 $150,000 $150,000
Social Security taxable wage base $132,900 $128,400 $127,200

Other Limits:    2019 2018 2017

Health FSA (per employee)             

$2,700 $2,650 $2,600

Dependent Care (per family)

$5,000 $5,000 $5,000

Adoption Assistance Program

TBD $13,840 $13,570
 
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Contact Us

600 Blair Park Road
Suite 331
Williston, VT 05495-0905

phone: (802) 878-6601
fax: (802) 878-9455

info@futureplanningassoc.com

Our Affiliations

ASPPA Member

Vermont Bankers Association 

                                   
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