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Indexed Dollar Figures for Employee Benefit Plans

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Indexed Dollar Figures for Employee Benefit Plans

Current and previous IRS indexed dollar limits for tax qualified employee benefit plans

DEFINED CONTRIBUTION 403(b) RETIREMENT PLANS 2019 2018
Maximum elective deferral by employee $ 19,000 $ 18,500
Catch-up contribution limit (age 50 and over during year)      6,000      6,000
Limit on 403(b) lifetime catch-up*      3,000      3,000
Annual defined contribution maximum (employer & employee combined)**    56,000    55,000
Employee annual compensation limit for calculating contributions  280,000  275,000
*Available to employees with 15 or more years of service who have contributed, on average, no more than $5,000 a year to their 403(b) plan. This catch-up provision allows participants to contribute up to $3,000 per year (up to lifetime catch-up limit of $15,000) in addition to the regular contribution limit.
** This is the limit on tax-deferred contributions made on behalf of an individual from all sources.
OTHER LIMITS 2019 2018
Highly compensated employee annual compensation threshold  125,000  120,000
Social Security (FICA) taxable wage base (6.2% OASDI tax)  132,900  128,400