2017 IRS Benefits & Contributions Limits Announced (Posted on November 14, 2016 by )

irsOn November 14, 2016 the IRS issued IRS Notice 2016-62, 2016-46 I.R.B. 725, announcing the changes in pensions and benefits limits for 2017. The maximum limits on employee pretax contributions to 401(k), 403(b), and 457(b) plans (without catch-ups) remained unchanged at $18,000. However, the maximum limit on annual additions (primarily to defined contribution plans) rose from $53,000 to $54,000, and the maximum limit on benefits (when expressed as an annual benefit) under a defined benefit plan rose from $210,000 to $215,000. Limits on annual compensation taken into account and the compensation used in the definition of a key employee also rose.

A chart showing details, and limits from 1996 to 2017, can be found at this link.