Federal and Retirement Plan Limits and Rates
Federal Tax Limits
Social Security (OASDI) wage base - $106,800
OASDI Percentage - 6.20%
Maximum OASDI Withholding - $6,621.60
Medicare (HI) wage base - No Limit
Medicare (HI) Percentage - 1.45%
Maximum HI Withholding - No Limit
FUTA Wage Base - $7,000
FUTA Percentage - 0.80%
Retirement Plan Contribution Limits
401(k) - $16,500
403(b) - $16,500
408(k) - $16,500
457- $16,500
414(h)(2) - No Limit
Section 501(c)(18)(D) - $11,500
Simple IRA - $11,500
Simple 401(k) - $11,500
Over 50 Catch Up for 401(k), 403(b), 457 Plans - $5,500
Over 50 Catch Up for SIMPLE Plan - $2,500
State Unemployment limits and rates vary by state and by the individual employer.
Contact: Linda Hovasse (linda.hovasse@qtspayroll.com)
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