The IRS recently announced the 2018 cost-of-living adjustments (COLAs) that impact retirement plans and the Social Security Wage Base (SSWB). After the largest increase in 20 years in the SSWB from 2016 to 2017, the SSWB increased by just over 1% from 2017 ($127,200) to 2018 ($128,700).
A few of the 2018 limitations remained the same as in 2017 while most others increased slightly. We’ve included a comparison on the dollar limitations for benefits and contributions over the past three years in our 2018 Cost-of-Living Adjustments chart.
An interesting comparison can also be found on the IRS website, which lists the COLA dollar limitations over the past 28 years.
If you have any questions on these dollar limitations, please contact us.
