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Applicable Dollar Limits

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The following entries provide the applicable dollar limits in effect for 2019, except where otherwise noted.

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Compensation dollar limitation (IRC §401(a)(17)

  • $280,000

Elective deferral limitation (IRC §§401(a)(30) and 402(g))

  • $19,000

Catch-up contribution limits (IRC §414(v))

  • $6,000

ESOP distribution restrictions (IRC §409(o))

  • Minimum balance - $1,130,000
  • Increment amount - $225,000

Compensation requirements under HCE definition (IRC §414(q))

  • $125,000

Compensation requirements under key employee definition (IRC §416(i)(1))

  • $180,000 (officer test), $150,000 (1% owner test - not subject to COLAs)

Section 415 limits

  • DC limit - $56,000
  • DB limit - $225,000
  • 1.0264 (factor for DB copensation limit for participants who separate from service before 2018)

Compensation requirement for participation in SEPs (IRC §408(k))

  • $600

Annual limit on elective contributions under SIMPLE Plans (IRC §408(p)(2) and IRC §401(k)(11))

  • $13,000

Annual deferral limit under section 457 plans (IRC §457(b))

  • $19,000

Adjusted PBGC flat-rate premium/adjusted PBGC variable rate premium/maximum PBGC-guaranteed monthly benefit from terminated plan

  • Flat rate premiums - single-employer plans: $80; multiemployer plans: $29
  • Variable rate premiums (VRP) - $43 per $1,000 of underfunding; cap on VRP - $541
  • Maximum guaranteed benefit:$67,295.40 annually/$5,697.95 monthly

IRA contribution limits (IRC §§219, 408 and 408A)

  • $6,000 ($1,000 catch-up limit)
  • AGI phase-outs for IRA deduction for active participants
    • Married filing jointly or qualifying widow(er): $103,000-$123,000
    • Single or head of household: $64,000-$74,000
    • Married filing separately: $0-$10,000 (not subject to COLAs)
    • Non-active participant married to active participant, based on couple's AGI: $193,000-$203,000
  • AGI phase-outs for Roth contribution eligibility
    • Married filing jointly or qualifying widow(er): $193,000-$203,000
    • Single or head of household: $122,000-$137,000
    • Married filing separately $0-$10,000 (not subject to COLAs)

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Health Savings Accounts (HSAs)

  • Annual contribution limit:
    • Self-only coverage: $3,500
    • Family coverage: $7,000
  • Annual minimum deductible for high deductible health plan:
    • Self-only coverage: $1,350
    • Family coverage: $2,700
  • Maximum out-of-pocket expenses for high deductible health plan:
    • Self-only coverage: $6,750
    • Family coverage: $13,500
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Archer Medical Savings Accounts (MSAs)

  • Annual minimium deductible for high deductible plan:
    • Self-only coverage: $2,350
    • Family coverage: $4,650
  • Annual maximum deductible for high deductible health plan:
    • Self-only coverage: $3,500
    • Family coverage: $7,000
  • Maximum out-of-pocket expenses for high deductible health plan:
    • Self-only coverage: $4,650
    • Family coverage: $8,550
 

Saver’s Credit (IRC §25B)

  • AGI brackets for 50% credit:
    • Married filing jointly: $0-$38,500
    • Head of household: $0-$28,875
    • Other taxpayers: $0-$19,250
  • AGI brackets for 20% credit:
    • Married filing jointly: $38,501-$41,500
    • Head of household: $28,876-$31,125
    • Other taxpayers: $19,251-$20,750
  • AGI brackets for 10% credit:
    • Married filing jointly: $41,501-$64,000
    • Head of household: $31,126-$48,000
    • Other taxpayers: $20,751-$32,000
  • AGI above high end of 10% credit bracket entitled to $0 credit
 

Penalty on Late Form 1099-Rs

  • For returns due in 2020 for 2019 taxable years
    • General penalty - $270
    • If corrected within 30 days - $50
    • If corrected after 30 days but no later than August 1 - $110

Maximum Aggregate Premiums for Qualified Longevity Contract (QLAC)

  • $130,000
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Taxable Wage Base

  • $132,900

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