Monthly Archives: October 2017

IRS announces 2018 pension and other COLAs

October 20, 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 […]

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SSA releases 2018 Social Security wage base and COLA

October 16, 2017

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 […]

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