The IRS has issued revised covered compensation tables for the 2018 plan year. The revised tables reflect a change to the taxable wage base that the Social Security Administration announced on November 27, 2017. Accordingly, these revised tables apply instead of those provided in Rev. Rul. 2017-22. The revised taxable wage base is $128,400.
Revised Covered Compensation Tables for 2018
Covered compensation is the average of the contribution and benefit bases in effect under section 230 of the Social Security Act for each year in the 35-year period ending with the year in which the employee attains Social Security retirement age. The tables are developed by rounding the actual amounts of covered compensation for different years of birth.
Rev. Rul. 2017-22, I.R.B. 2017-48, 536, is modified and superseded.
Rev. Rul. 2018-4