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Qualified Plan Limits

Maximum Benefits and Contribution Limits

Limits 2016 2015 2014
Elective Deferrals for 401(k) and 403(b) Plans $18,000 $18,000 $17,500
Elective Deferral Catch-Up $6,000 $6,000 $5,500
Maximum Annual Compensation $265,000 $265,000 $260,000
Defined Contribution Annual Addition Limit $53,000 $53,000 $52,000
Defined Benefit Annual Limit $210,000 $210,000 $210,000
Highly Compensated Threshold $120,000 $120,000 $115,000
SIMPLE IRA Contribution Limit $12,500 $12,000 $12,000
SIMPLE IRA Catch Up Contribution $3,000 $3,000 $2,500
Traditional IRA and Roth IRA Contribution Limit $5,500 $5,500 $5,500
Traditional IRA and Roth IRA Catch up Contribution $1,000 $1,000 $1,000
Social Security Taxable Wage Base $118,500 $118,500 $117,000

 

The tax information contained in this material is based on federal laws existing on the date of its publication and is provided as a general information service by Howell Benefits. Neither Howell Benefits nor Cambridge Investment Research, Inc. offers tax or legal advice. You should consult your legal or tax advisor for more information on these subjects. Securities and Investment Advisory Services offered by representatives of Cambridge Investment Research, Inc., a Broker/ Dealer, member FINRA/SIPC. Howell Benefits and Cambridge are not affiliated.
Howell Benefit Services, Inc. 613 Baltimore Drive, Wilkes Barre PA 18702 570-831-9900.
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