Contribution Limit for 401(k)s Will Rise to $18,500 in 2018

Employees who participate in 401(k) plans and a number of other retirement-savings plans will be able to contribute up to $18,500 in 2018—$500 more than this year's limit.

The IRS announced the change, along with increases to the income ranges for determining eligibility to make deductible contributions to individual retirement accounts, in a notice (Notice 2017-64) that describe other cost-of-living adjustments related to benefits and contributions under qualified retirement plans.

Notice 2017-64 is scheduled to publish Nov. 6 in Internal Revenue Bulletin 2017-45 and is also available at here.