Announcement RE: 2017 Retirement Plan Limits | October 2016
Plan Administration & Design, Inc.
Pension Consultants, Actuaries & Administrators
ANNOUNCEMENT: 2017 RETIREMENT PLAN LIMITS
The IRS recently announced the cost-of-living adjustments applicable to certain limitations for retirement plans in 2017.
The 2017 calendar year limits are as follows:
- 401(k) Deferrals (1,2) $18,000
- 401(k) Catch-Up Contributions (1,2) $6,000
- Defined Contribution Limit $54,000
- Defined Benefit Dollar Limit $215,000
- Compensation Limitation $270,000
- Highly Compensated Employee (3) $120,000
- Key Employee Officer $175,000
- Social Security Taxable Wage Base $127,200
(1) There is no change in the limits from 2016.
(2) An employee who is at least age 50 in 2017 may elect to defer $24,000 (the $18,000 basic limit plus the $6,000 catch-up amount).
(3) An employee with gross wages over $120,000 in the 2017 plan year will be treated as highly compensated in the next plan year – 2018.
Dissinger Associates Plan Administration & Design, Inc. is an employee owned firm of retirement plan consultants, administrators and actuaries. We specialize in the design, installation and administration of tax qualified retirement plans. Our experienced staff is dedicated to providing high quality service. 2017 will be our 36th year servicing the business community.
- 11835 West Olympic Blvd ● Suite 1000E● Los Angeles, CA 90064-5828 ● (323) 655-5400 ● Fax (323) 655-4100
- Alternate Fax: (424) 465-9773
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