Retirement Legislative and Administrative Updates

Welcome to the Legislative Ledger. Jonathan Anderson, a TCRS contributor, regularly monitors any legislative and administrative guidelines that are under consideration that might impact the retirement planning industry. TCRS tracks the developments so that it may continue to bring awareness and up-to-date information to the retirement plan community.We strive to provide the information you need to stay informed and to provide comprehensive summaries of the issues at hand, including annual pension plan limitations.


2017

Select Pension Plan Limits for 2018

The Internal Revenue Service announced cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2018. The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan is increased from $18,000 to $18,500. See below for more details.

Saver's Credit Limitations for 2018

IRS has announced increases to the adjusted gross income limitations for the Saver's Credit for tax year 2018: $63,000 for married couples filing jointly; $47,250 for heads of household; and $31,500 for singles, married filing separately or qualifying widow(er). See below for more details.

2016

Saver's Credit Limitations for 2017

IRS has announced the adjusted gross income limitations for the Saver's Credit for tax year 2017: $62,000 for married couples filing jointly; $46,500 for heads of household; and $31,000 for singles, married filing separately or qualifying widow(er).


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