Annual Plan Limits Chart

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Annual Plan Limits Chart 2017-03-23T21:51:53+00:00
 2017201620152014
Compensation*$270,000$265,000$265,000$260,000
Limits on Benefits and Contributions*
Defined contribution plans
$54,000$53,000$53,000$52,000
Defined benefit plans
$215,000$210,000$210,000$210,000
401(k), 403(b) and 457 plan elective deferrals
$18,000$18,000$18,000$17,500
SIMPLE plan elective deferrals
$12,500$12,500$12,500$12,000
IRA
$5,500$5,500$5,500$5,500
Catch-up Contributions
401(k), 403(b) and 457 plans
$6,000$6,000$6,000$5,500
SIMPLE plans
$3,000$3,000$3,000$2,500
IRA
$1,000$1,000$1,000$1,000
“Highly Compensated” definition*$120,000$120,000$120,000$115,000
“Key Employee” definition
Officer*
$175,000$170,000$170,000$170,000
1% owner*
$150,000$150,000 $150,000$150,000
Social Security
Taxable wage base
$127,200$118,500$118,500$117,000
Social Security tax rate
6.20%6.20%6.20%6.20%
Medicare tax rate
1.45%1.45%1.45%1.45%
Combined tax rate
7.65%7.65%7.65%7.65%
Section 132
Mass Transit (monthly)
$255$255***$250***$130
Parking (monthly)
$255$255$250 $250
Section 125
Dependent Care (per family)
$5,000$5,000$5,000$5,000
Health Care (per person)
$2,600$2,550$2,550$2,500

*For Plans that are on an off-calendar year, compensation is based on the annual limits in effect at the beginning of the Plan Year while contribution limits are based on the annual limits in effect at the end of the Plan Year.

**Changed from $125 as part of the Taxpayer Relief Act of 2012, effective retroactively to 2012.

***Changed as part of the Consolidated Appropriations Act signed on December 18, 2015.