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Resources

Type of Limitation

2017

2016

2015

401(k), 403(b) and 457(b) Plan Maximum Salary Reduction

$ 18,000

$ 18,000

$ 18,000

Age 50 Catch-Up Salary Reduction Contributions

$ 6,000

$ 6,000

$ 6,000

Defined Benefit Plan Maximum Annual Pension

$ 215,000

$ 210,000

$210,000

Defined Contribution Plan Maximum Annual Addition

$ 54,000

$ 53,000

$ 53,000

Maximum Annual Compensation Limit

$ 270,000

$ 265,000

$ 265,000

Annual Compensation Limit for Grandfathered Participants in Governmental Plans Which Followed 401(a)(17) Limits (With Indexing) on July 1, 1993

$ 400,000

$ 395,000

$ 395,000

Highly Compensated Employees ("HCEs") Dollar Limit

$ 120,000

$ 120,000

$ 120,000

Individual Retirement Accounts ("IRAs"), for individuals 49 and below

$ 5,500

$ 5,500

$ 5,500

Individual Retirement Accounts ("IRAs"), for individuals 50 and above

$ 6,500

$ 6,500

$ 6,500

SIMPLE Maximum Salary Reduction

$ 12,500

$ 12,500

$ 12,500

SIMPLE Age 50 – Catch-Up Salary Reduction

$ 3,000

$ 3,000

$ 3,000

SEP Coverage

$ 600

$ 600

$ 600

SEP Compensation

$270,000

$265,000

$ 265,000

Tax Credit ESOP Maximum Balance

$ 1,080,000

$ 1,070,000

$ 1,070,000

Amount for Lengthening of 5-Year ESOP Period

$ 215,000

$ 210,000

$ 210,000

Taxable Wage Base (Income Subject to Social Security Tax)

$ 127,200

$ 118,500

$118,500

FICA Tax (employees and employers)

7.65%

7.65%

7.65%

Social Security Tax (employees and employers)

6.2%

6.2%

6.2%

Medicare Tax (employees and employers)

1.45%

1.45%

1.45%

FICA Tax for self-employed workers

15.3%

15.3%

15.3%

Social Security Tax for self-employed workers

12.4%

12.4%

12.4%

Medicare Tax for self-employed workers

2.9%

2.9%

2.9%

 

Links

Benefits Law Group can assist you with your benefits research. Click on the links below.

General Employee Benefits Information

Internal Revenue Service


U.S. Department of Labor
Pension Benefit Guaranty Corporation (PBGC)
State of Georgia

 

 

WBENC


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