Read more about the current Greenbook proposals. ...
This site uses cookies to ensure that we give you the best user experience. Cookies assist in navigation, analyzing traffic and in our marketing efforts as described in our Privacy Policy.
The Internal Revenue Service (IRS) announced cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for the 2017 tax year. Highlights of limitations that changed for 2017 include a $1,000 increase in the phase-out range for single taxpayers covered by a workplace retirement plan from $61,000-$71,000 to $62,000-$72,000, and a $2,000 increase to the phase-out range for IRA contributors who are not covered by a workplace retirement plan and are married to someone who is covered from $184,000-$194,000 to $186,000-$196,000. The phase-out range for singles and heads of households making contributions to a Roth IRA was also increased by $1,000 from $117,000-$132,000 to $118,000-$133,000. Other limitations that were changed for 2017 include a $1,000 increase in the maximum total annual contributions limit for defined contribution plans from $53,000 to $54,000, a $5,000 increase in the compensation dollar limit used to determine key employees in a top-heavy plan from $170,000 to $175,000, and a $5,000 increase in the maximum annual compensation limit from $265,000 to $270,000.
On the other hand, the limitations listed below did not change after taking into account the applicable rounding rules.
2017 Pension Plan Limits that Remain Unchanged from 2016
Annual salary deferrals for 401(k) and 403(b) plans |
$18,000 |
Age 50 catch-up contributions |
$6,000 |
Traditional and Roth IRA contributions |
$5,500 |
Traditional and Roth IRA catch-up contributions |
$1,000 |
SIMPLE 401(k) contribution limit |
$12,500 |
Compensation threshold for highly compensated employees “HCE” |
$120,000 |
If you have any questions on pension plan limitations, please contact us and visit our Employee Benefit Plan services page to learn about our ERISA services.
Read more about the current Greenbook proposals. ...
Learn more about the regional and national supply chain implications of the Baltimore Key Bridge collapse. ...
We’d love to hear from you. Drop us a note, and we’ll respond to you as quickly as possible.
Ask us
[email protected]
p:412.261.3644
f:412.261.4876
[email protected]
p:614.621.4060
f:614.621.4062
[email protected]
p:571.380.9003