For NTSA members, the 2017 limits and other important changes are provided for easy reference.
Contributions Limits:
403(b)/401(k) Elective Deferrals
2016: $18,000
2017: $18,000
457(b) Salary Reduction Contributions
2016: $18,000
2017: $18,000
Age 50+ Catch up
2016: $6,000
2017: $6,000
403(b) 15+ yrs. of Service
2016: $3,000
2017: $3,000
Section 415(c) Limit
2016: $53,000
2017: $54,000
Simple IRA/Simple 401(k)
2016: $12,500
2017: $12,500
Age 50+ Catch up/Simples
2016: $3,000
2017: $3,000
Minimum Compensation for SEPs
2016: $600
2017: $600
IRA & Roth IRA*
2016: $5,500
2017: $5,500
* Some but not all of the AGI phase out ranges for traditional and Roth IRAs were increased as well.
Age 50+ Catch up/IRAs
2016: $1,000
2017: $1,000
Other Retirement Plan Information:
Definition of Highly Compensated
2016: $120,000
2017: $120,000
Key Employee Officer Compensation
2016: $170,000
2017: $175,000
401(a)(17) Compensation Limit
2016: $265,000
2017: $270,000
HSAs — Maximum Contribution (Self only)
2016: $3,350
2017: $3,400
Social Security:
Taxable Wage Base
2016: $118,500
2017: $127,200
Earnings Limitation (For early retirees)
2016: $15,720
2017: $16,920
Susan D. Diehl, CPC, QPA, ERPA, is President, PenServ Plan Services, Inc. and Chair of the NTSA Communications Committee.
Opinions expressed are those of the author, and do not necessarily reflect the views of NTSA or its members.
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