On October 27, 2017, the IRS announced cost of
living adjustments affecting dollar limitations for retirement related items for tax year 2017.
Here are the Highlights!
CHART OF SELECT LIMITS
401k Limits For Year |
2017 |
2016 |
401k Elective Deferrals |
$18,000 |
$18,000 |
Annual Defined Contribution Limit |
$54,000 |
$53,000 |
Annual Compensation Limit |
$270,000 |
$265,000 |
Catch-Up Contribution Limit |
$6,000 |
$6,000 |
Highly Compensated Employees |
$120,000 |
$120,000 |
Non-401k Related Limits |
2017 |
2016 |
Social Security (OASDI Only) |
$127,200 |
$118,500 |
Questions? Email 401k@employerflexible.com or call us at 1.866.501.4942