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 Limitation | 2016 | 2017 |
| 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.