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* 2017 & 2016 Pension Plan Limitations
11/1/2016

The elective deferral (contribution) limit for employees who participate in 401(k), 403(b), most 457 plans and the federal government’s Thrift Savings Plan is $18,000 for 2017 and 2016.

The catch-up contribution limit for employees aged 50 and over who participate in 401(k), 403(b), most 457 plans and the federal government’s Thrift Savings Plan is $6,000 for 2017 and 2016.

The limit on annual contributions to an Individual Retirement Arrangement (IRA) is $5,500 for both 2017 and 2016.  The catch-up contribution to an IRA for individuals aged 50 and over is $1,000.

The limitation on the annual benefit under a defined benefit plan under Section 415(b)(1)(A) is $215,000 for 2017 and $210,000 for 2016.

The limitation for defined contribution plans under Section 415(c)(1)(A) is $54,000 for 2017 and $53,000 for 2016.

The limitation under Section 402(g)(1) on the exclusion for elective deferrals described in Section 402(g)(3) is $18,000 for 2017 and 2016.

The annual compensation limit under Sections 401(a)(17), 404(l), 408(k)(3)(C) and 408(k)(6)(D)(ii) is $270,000 for 2017 and $265,000 for 2016.

The dollar limitation under Section 416(i)(1)(A)(i) concerning the definition of key employee in a top-heavy plan is $175,000 for 2017 and $170,000 for 2016.

The limitation used in the definition of highly compensated employee under Section 414(q)(1)(B) is $120,000 for 2017 and 2016.

 The limitation under Section 408(p)(2)(E) regarding SIMPLE retirement accounts is $12,500 for 2017 and 2016.   

The taxable wage base for Social Security is $127,200 for 2017 and $118,500 for 2016.

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