401k and Retirement Plan Limits for the Tax Year 2017

401k and Retirement Plan Limits for the Tax Year 2017

On October 27, 2016, the Internal Revenue Service announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2017.

Highlights of Limitations That Remain Unchanged From 2016

  • The contribution limit for employees who participate in 401k, 403(b), most 457 plans, and the federal government’s Thrift Savings Plan remains unchanged at $18,000.
  • The catch-up contribution limit for employees aged 50 and over who participate in 401k, 403(b), most 457 plans, and the federal government’s Thrift Savings Plan remains unchanged at $6,000.
  • The limit on annual contributions to an IRA remains unchanged at $5,500. The additional catch-up contribution limit for individuals aged 50 and over is not subject to an annual cost-of-living adjustment and remains $1,000.

Chart of Select Limits
401k Plan Limits for Year 2017 2016 2015 2014 2013 2012 2011
401k Elective Deferrals $18,000 $18,000 $18,000 $17,500 $17,500 $17,000 $16,500
Annual Defined Contribution Limit $54,000 $53,000 $53,000 $52,000 $51,000 $50,000 $49,000
Annual Compensation Limit $270,000 $265,000 $265,000 $260,000 $255,000 $250,000 $245,000
Catch-Up Contribution Limit $6,000 $6,000 $6,000 $5,500 $5,500 $5,500 $5,500
Highly Compensated Employees $120,000 $120,000 $120,000 $115,000 $115,000 $115,000 $110,000
 
Non-401k Related Limits
403(b)/457 Elective Deferrals $18,000 $18,000 $18,000 $17,500 $17,500 $17,000 $16,500
SIMPLE Employee Deferrals $12,500 $12,500 $12,500 $12,000 $12,000 $11,500 $11,500
SIMPLE Catch-Up Deferral $3,000 $3,000 $3,000 $2,500 $2,500 $2,500 $2,500
SEP Minimum Compensation $600 $600 $600 $550 $550 $550 $550
SEP Annual Compensation Limit $270,000 $265,000 $265,000 $260,000 $255,000 $250,000 $245,000
Social Security Wage Base $127,200 $118,500 $118,500 $117,000 $113,700 $110,100 $106,800

Traditional IRA Contribution Limits 2011/2012

Here are the contribution limits for Traditional IRA for 2011/2012


Year Maximum Contribution

(if under age 50)

Maximum Contribution

(if over age 50)

Contribution Deadline
2011 $5,000 $6,000 04/17/2012
2012 $5,000 $6,000 04/15/2013

Traditional/Roth IRA Contribution Limits

Here are the contribution limits for Traditional and Roth IRAs for 2008/2009

Traditional IRA and
Roth IRA Contribution Limits
Upto Age 50 50+ catchup
2008 $5,000 $5,000
2009 $6,000 $6,000