RETIREMENT PLAN BENEFITS AND LIMITS FOR 2017

Published on November 3, 2016.
Type 2016 2017
Traditional and Roth IRA contribution $5,500 $5,500
Traditional and Roth IRA catch-up contribution $1,000 $1,000
SIMPLE IRA and SIMPLE 401(k) salary deferral $12,500 $12,500
SIMPLE IRA and SIMPLE 401(k) catch-up contribution (50 years old & above) $3,000 $3,000
401(k), 403(b), 457(b), and SARSEP salary deferral contribution $18,000 $18,000
401(k), 403(b), 457(b), and SARSEP catch-up contribution (50 years old & above) $6,000 $6,000
SEP minimum compensation $600 $600
SEP maximum compensation $265,000 $270,000
Retirement Savings Contribution Credit
                   Married filing jointly $61,000 $62,000
                   Married filing separately and Single $30,500 $31,000
                   Head of Household $45,750 $46,500
Roth IRA eligibility compensation Married filing jointly 100% $183,000 or less $186,000 or less
Partial $183,000 – $193,000 $186,000 – $196,000
None $193,000 or more $196,000 or more
Married filing separately Partial Less than $10,000 Less than $10,000
None $10,000 or more $10,000 or more
100% $116,000 or less $118,000 or less
Single/Head of Household Partial $116,000 – $131,000 $118,000 – $133,000
None $131,000 or more $133,000 or more
IRA deductibility compensation Married filing jointly 100% $98,000 or less $99,000 or less
Partial $98,000 – $118,000 $99,000 – $119,000
None $118,000 or more $119,000 or more
Married filing Partial Less than $10,000 Less than $10,000
 separately None $10,000 or more $10,000 or more
100% $61,000 or less $62,000 or less
Single/Head of Household Partial $61,000 – $71,000 $62,000 – $72,000
None $71,000 or more $72,000 or more
Annual addition/contribution limit under a defined contribution plan or SEP IRA $53,000 $54,000
Annual benefit under a defined benefit plan $210,000 $215,000
Compensation cap $265,000 $270,000
Key Employee definition $170,000 $175,000
Highly compensated employee definition $120,000 $120,000
Social Security (FICA) wage base $118,500 $127,200

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