Save More in 2018: Retirement Contribution and Social Security Limits on the Rise

​The maximum contribution to 401(k) accounts is being raised by $500 in 2018, the first increase in three years. If you have not already done so, now is the time to plan for contributions into your retirement accounts in 2018.

​Retirement Contribution Limits

Retirement Program	2018	2017	Change	Age 50 or over catch up
​401(k), 403(b), 457 plans	​$18,500	$18,000	+$500	​add: $6,000
​IRA: Roth	​$5,500	$5,500	none	​add: $1,000
​IRA: SIMPLE	​$12,500	$12,500	none	​add: $3,000
​IRA: Traditional	​$5,500	$5,500	none	​add: $1,000

​Social Security

Item	2018	2017	Change
Wages subject to Social Security	$128,700	​$127,200	+$1,500
Average estimated monthly retirement benefit	​$1,404	$1,360	+$44

​Don't forget to account for any matching programs offered by your employer as you determine your various funding levels for next year.