Each year the IRS announces cost of living adjustments for qualified retirement plans. Great Lakes is pleased to present the current year limits as well as the prior three years below.

 

Annual Compensation and Contribution Limits for Qualified Retirement Plans
  2017 2016 2015 2014

401(k) and 403(b) Deferral Limit

18,000 18,000 18,000 17,500

457 Deferral Limit

18,000 18,000 18,000 17,500

401(k), 403(b), 457 Catch-up Contribution Limit

6,000 6,000 6,000 5,500

SIMPLE Deferral Limit

12,500 12,500 12,500 12,000

SIMPLE Catch-up Contribution Limit

3,000 3,000 3,000 2,500

Annual Compensation Limit

270,000 265,000 265,000 260,000

Defined Benefit 415 Limit

215,000 210,000 210,000 210,000

Defined Contribution 415 Limit

54,000 53,000 53,000 52,000

Dollar Limit for HCEs

120,000 120,000 120,000 115,000

Dollar Limit for Key Employee

175,000 170,000 170,000 170,000

Social Security Taxable Wage Base

127,200 118,500 118,500 117,000