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2019 Cost of Living Adjustments

November 1, 2018
Employee Benefits Advisory

The Internal Revenue Service has announced the 2019 cost of living adjustments to various limits. The adjusted amounts generally apply for plan years beginning in 2019. Some of the adjusted amounts, however, apply to calendar year 2019.

Employee Benefit Plans
Plan Year 2019 2018

401(k), 403(b), 457 deferral limit

$19,000

$18,500

Catch-up contribution limit (age 50 or older by end of year)

$6,000

$6,000

Annual compensation limit

$280,000

$275,000

Annual benefits payable under defined benefit plans

$225,000

$220,000

Annual allocations to accounts in defined contribution plans

$56,000
(but not more than 100% of compensation)

$55,000
(but not more than 100% of compensation)

Highly compensated employee Compensation more than $125,000 in 2018 plan year Compensation more than $120,000 in 2017 plan year

          

Health Savings Accounts
Calendar Year 2019 2018
Maximum contribution
  • Family
  • Self
  • $7,000
  • $3,500
  • $6,900
  • $3,450

Catch-up contribution
(participants who are 55 by end of year)

  • $1,000
  • $1,000
Minimum deductible
  • Family
  • Self
  • $2,700
  • $1,350
  • $2,700
  • $1,350
Maximum out-of-pocket
  • Family
  • Self
  • $13,500
  • $6,750
  • $13,300
  • $6,650

                

Social Security
Calendar Year 2019 2018

Taxable wage base

$132,900

$128,400

Maximum earnings without loss of benefits
  • Under full retirement age
  • Year you reach full retirement age

  • $1,470/mo. ($17,640/yr.)
  • $3,910/mo. up to month of full retirement age ($46,920/yr.)

  • $1,420/mo. ($17,040/yr.)
  • $3,780/mo. up to month of full retirement age ($45,360/yr.)

                         

Social Security Retirement Age
Year of Birth Retirement Age
Prior to 1938 Age 65
1938 65 and 2 months
1939 65 and 4 months
1940 65 and 6 months
1941 65 and 8 months
1942 65 and 10 months
1943 - 1954 66
1955 66 and 2 months
1956 66 and 4 months
1957 66 and 6 months
1958 66 and 8 months
1959 66 and 10 months
1960 and later 67

                             

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