Monthly Archives: October 2017

The IRS has announced updated limits for benefits and contributions for qualified retirement plans and more for 2018. Here are the highlights: 401(k) contribution limit increases to $18,500 (up from $18,000) Annual additions to defined contribution plans increase by $1,000 to $55,000 Catch-up contributions (for those age 50 and over) remains unchanged at $6,000 Voluntary […]

The Social Security Administration (SSA) has announced a $1,200 increase in the Social Security wage base for 2018. The previous wage base of 127,200 will be raised to $128,400. Medicare continues with no limit, meaning all wages are subject to the 1.45 percent tax, unless wages are greater than $200,000 in which case they are […]