On October 27, 2016, the Internal Revenue Service announced cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for the 2017 tax year.
|
401(k) Plan Limits for Year |
2017 |
2016 |
2015 |
|
401k Elective Deferrals |
$18,000 |
$18,000 |
$18,000 |
|
Annual Defined Contribution Limit |
$54,000 |
$53,000 |
$53,000 |
|
Annual Compensation Limit |
$270,000 |
$265,000 |
$265,000 |
|
Catch-Up Contribution Limit |
$6,000 |
$6,000 |
$6,000 |
|
Highly Compensated Employees |
$120,000 |
$120,000 |
$120,000 |
|
Non-401(k) Retirement Plan Limits |
2017 |
2016 |
2015 |
|
403(b)/547 Elective Deferrals |
$18,000 |
$18,000 |
$18,000 |
|
SIMPLE Employee Deferrals |
$12,500 |
$12,500 |
$12,500 |
|
SIMPLE Catch-Up Deferral |
$3,000 |
$3,000 |
$3,000 |
|
SEP Minimum Compensation |
$600 |
$600 |
$600 |
|
SEP Annual Compensation Limit |
$270,000 |
$265,000 |
$265,000 |
|
Social Security Wage Base |
$127,200 |
$118,500 |
$118,500 |
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