Employee Benefit Limits
2016-2017
| 2017 | 2016 | |
| Maximum annual benefit earned under a defined benefit plan [IRC Section 415] |
$215,000 | $210,000 |
| Maximum contribution to a participant's account in one or more defined contribution plans [IRC Section 415] |
$54,000 | $53,000 |
| Maximum salary deferral 401(k)/403(b) plans [IRC Section 402(g) limit] and most 457 plans |
$18,000 | $18,000 |
| Maximum salary deferral SIMPLE 401(k) plans |
$12,500 | $12,500 |
| Minimum compensation amount SEPs |
$600 | $600 |
| Maximum compensation amount 401(a) plans, 403(b) plans, and SEPs |
$270,000 | $265,000 |
| Age 50 catch-up contribution 401(k) plans, 403(b) plans, and 457(b) governmental plans |
$6,000 | $6,000 |
| Catch-up contribution SIMPLE 401(k) plans |
$3,000 | $3,000 |
| Highly compensated employee salary definition | $120,000 | $120,000 |
| Key employee in top-heavy plan salary definition | $175,000 | $170,000 |
| Social Security taxable wage base | $127,200 | $118,500 |
Source: Internal Revenue Service, irs.gov, October 27, 2016, and Social Security Administration, ssa.gov, October 18, 2016.
This information is brought to you as a courtesy and is for educational purposes only.