The 2017 retirement plan contribution limits have been released with cost of living adjustments. This year we are seeing an adjustment of some limits, but not others.
- The employee deferral limits for 2017 remain unchanged at $18,000 with $6,000 catch up available for those age 50 and older.
- The maximum annual additions limit, including employee deferrals combined with employer contributions, has been bumped up to $54,000 for 2017 (compared to $53,000 for years 2016 / 2015).
- The maximum allowable compensation for retirement testing and allocation purposes has also been increased to $270,000 (compared to $265,000 for 2016 /2015).
A handy 7 year comparison chart can be found at: 401khelpcenter.com