Thursday, March 31, 2016

2016 contribution limits

The IRS announced the 2016 cost-of-living adjustments (COLAs) to applicable dollar limitations for retirement plans.

Retirement Plan Limitation
Contribution Limit
402(g)(1) salary deferral limit
Catch-up contribution
415(c)(1)(A) annual additions limit (defined contribution plans)
415(b)(1)(A) annual benefit limit (defined benefit plans)
Key Employee Officer amount*
Highly Compensated Employee (HCE)*
SIMPLE plan salary deferral limit
SIMPLE plan catch-up contribution
Annual compensation cap
Social Security taxable wage base
SEP plan minimum compensation amount