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2017 Benefits Limits Announced

Hodgson Russ Newsletter
October 31, 2016

The Internal Revenue Service and Social Security Administration have announced the cost of living adjusted dollar limits applicable to benefit plans.  A listing of key limits is set out below:


2017 LIMIT

401(k)/403(b)/457   plan maximum elective deferral


401(k)/403(b)/457   Catch-up


Defined   contribution maximum annual addition


Defined   benefit maximum annual pension


Qualified   plans maximum compensation limit


Highly Compensated Employee


IRA   Limit


IRA   Catch-up


SIMPLE   Limit


SIMPLE   Catch-up


Social   Security Taxable Wage Base