| 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|
| Compensation* | $280,000 | $275,000 | $270,000 | $265,000 |
| Limits on Benefits and Contributions* | ||||
Defined contribution plans | $56,000 | $55,000 | $54,000 | $53,000 |
Cash Balance/Defined benefit plans | $225,000 | $220,000 | $215,000 | $210,000 |
401(k), 403(b) and 457 plan elective deferrals | $19,000 | $18,500 | $18,000 | $18,000 |
SIMPLE plan elective deferrals | $13,000 | $12,500 | $12,500 | $12,500 |
IRA | $6,000 | $5,500 | $5,500 | $5,500 |
| Catch-up Contributions | ||||
401(k), 403(b) and 457 plans | $6,000 | $6,000 | $6,000 | $6,000 |
SIMPLE plans | $3,000 | $3,000 | $3,000 | $3,000 |
IRA | $1,000 | $1,000 | $1,000 | $1,000 |
| “Highly Compensated” definition* | $125,000 | $120,000 | $120,000 | $120,000 |
| “Key Employee” definition | ||||
Officer* | $180,000 | $175,000 | $175,000 | $170,000 |
1% owner* | $150,000 | $150,000 | $150,000 | $150,000 |
| Social Security | ||||
Taxable wage base | $132,900 | $128,400 | $127,200 | $118,500 |
Social Security tax rate | 6.20% | 6.20% | 6.20% | 6.20% |
Medicare tax rate | 1.45% | 1.45% | 1.45% | 1.45% |
Combined tax rate | 7.65% | 7.65% | 7.65% | 7.65% |
| Section 132 | ||||
Mass Transit (monthly) | $265 | $260 | $255 | $255** |
Parking (monthly) | $265 | $260 | $255 | $255 |
| Section 125 | ||||
Dependent Care (per family) | $5,000 | $5,000 | $5,000 | $5,000 |
Health Care (per person) | $2,700 | $2,650 | $2,600 | $2,550 |
| Health Savings Accounts (HSA) | ||||
Contribution Limit (Individual) | $3,500 | $3,450 | $3,400 | |
Contribution Limit (Family) | $7,000 | $6,900 | $6,750 | |
Catch-up Contributions | $1,000 | $1,000 | $1,000 | |
HDHP minimum deductible (Individual) | $1,350 | $1,350 | $1,300 | |
HDHP minimum deductible (Family) | $2,700 | $2,700 | $2,600 | |
Maximum Out-of-Pocket Expenses (Individual) | $6,750 | $6,650 | $6,550 | |
Maximum Out-of-Pocket Expenses (Family) | $13,500 | $13,300 | $13,100 |
*For Plans that are on an off-calendar year, compensation is based on the annual limits in effect at the beginning of the Plan Year while contribution limits are based on the annual limits in effect at the end of the Plan Year.
**Changed as part of the Consolidated Appropriations Act signed on December 18, 2015.