Taxes

IRS Announces 2017 Plan Limits

November 7, 2016

The IRS has announced new contribution limits for retirement plans in 2017. Learn the contribution limits for the different pension plans!

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On October 27th, the IRS announced cost of living adjustments affecting dollar limitations for pension plans for the 2017 tax year. Most of the pension plan limits remain unchanged from 2016 to 2017.

 

Listed below are the maximum benefit and contribution limits for 2016 and 2017:

 

Type of Limitation20162017
401(k) / 403(b) Elective Deferrals (402(g))$18,000$18,000
457(b)(2) and 457(c)(1)$18,000$18,000
Catch-up Amount (414(v))$6,000$6,000
Annual Compensation$265,000$270,000
Maximum Defined Contribution$53,000$54,000
Highly Compensated Employee$120,000$120,000

 

TLC will be sending your 2017 Fast Facts, 2017 Calendars, Labor Law posters, and more early 2017.

 


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