Benefit Plan Limits

2017 EMPLOYEE BENEFIT PLAN LIMITS

The IRS recently released employee benefit plan limits for 2017. There are a few changes for 2017.

PLAN LIMITATIONS

2015

2016

2017

Annual Compensation Limit $265,000 $265,000 $270,000
Defined Contribution Maximum Annual Contribution $53,000 $53,000 $54,000
Annual §401(k) Employee Deferral Limit $18,000 $18,000 $18,000
Age 50 Catch-up Contributions to §401(k) Plan $6,000 $6,000 $6,000
Highly Compensated Employee Threshold $120,000 $120,000 $120,000
Income subject to Social Security Wage Base $118,500 $118,500 $127,200

Please share this information with your payroll personnel so they are aware of these limits.