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
|
$18,000
|
Catch-up
contribution
|
$6,000
|
415(c)(1)(A)
annual additions limit (defined contribution plans)
|
$53,000
|
415(b)(1)(A)
annual benefit limit (defined benefit plans)
|
$210,000
|
Key
Employee Officer amount*
|
$170,000
|
Highly
Compensated Employee (HCE)*
|
$120,000
|
SIMPLE
plan salary deferral limit
|
$12,500
|
SIMPLE
plan catch-up contribution
|
$3,000
|
Annual
compensation cap
|
$265,000
|
Social
Security taxable wage base
|
$118,500
|
SEP
plan minimum compensation amount
|
$600
|
