News

2017 Annual Benefit Plan Limits

  2017 Limit2016 Limit
Contributions and Benefits
401(k), 403(b) and 457(e)(15) maximum elective salary deferral$18,000$18,000
SIMPLE plan maximum salary deferral$12,500$12,500
Catch-up (age 50 or older) in 401(k), 403(b) and 457(b)$6,000$6,000
Catch-up (age 50 or older) for SIMPLE plans$3,000$3,000
Highly compensated employees (HCE) compensation limit (earned in prior year)$120,000$120,000
Key employee (officer) compensation limit$175,000$170,000
401(a)(17) annual compensation limit for benefit purposes$270,000$265,000
Code 415 Maximums
  • Defined benefit plan annual payout limit at age 62
$215,000$210,000
  • Defined contribution plan annual contribution limit
$54,000$53,000
Employee Stock Ownership Plans
  • Maximum amount subject to 5-year distribution period
$1,080,000$1,070,000
  • Amount for extension of 5-year distribution period
$215,000$210,000
Pension Benefit Guaranty Corporation
Maximum guaranteed annual benefit (single employer plans)$64,432$60,136
Maximum guaranteed annual benefit (multiemployer plans)$429 x yrs. of service$429 x yrs. of service
Multiemployer
  • Fixed premium (per participant)
$28.00$27.00
Single employer
  • Fixed premium (per participant)
$69.00$64.00
  • Variable-rate premium (based on PBGC interest rates)
3.4% of UVB3.0% of UVB
Per participant cap$517.00$500.00
Qualified transportation benefit
  • Parking (per month)
$255.00$255.00
  • Transit Pass & Van Pooling (combined) (per month)
$255.00$255.00
Social Security/Medicare
Social Security
  • OASDI taxable wage base
$127,200$118,500
  • OASDI tax rate
6.2%6.2%
  • Maximum monthly benefit at full retirement age
$2,687$2,639
  • Full retirement age
66 yrs.66 yrs.
  • Cost of living adjustment
0.3%0%
Maximum income without reducing Social Security retirement benefits
  • Over SSNRA
No limitNo limit
  • Year individual attains SSNRA*
Annual Amount$44,880$41,880
Monthly Amount$3,740$3,490
  • Years before SSNRA**
Annual Amount$16,920$15,720
Monthly Amount$1,410$1,310
Medicare Part A
  • HI (Medicare) taxable wagebase
No limitNo limit
  • Medicare tax rate
1.45%1.45%
  • Deductible
$1,316$1,288
Medicare Part B
  • Monthly premium
$109.00$104.90
  • Deductible
$183.00$166.00
Medicare Part D
  • Deductible
$400.00$360.00
HDHP Minimum Deductible Amount
  • Self-only coverage
$1,300$1,300
  • Family coverage
$2,600$2,600
HDHP Maximum Out-of-Pocket Amount
  • Self-only coverage
$6,550$6,550
  • Family coverage
$13,100$13,100
HSA Statutory Contribution Amount
  • Self-only coverage
$3,400$3,350
  • Family coverage
$6,750$6,750
HSA Catch-up Contributions (age 55 or older)$1,000$1,000
Non-Grandfathered Health Plans Cost-Sharing Maximum
  • Self-only coverage
$7,150$6,850
  • Family coverage
$14,300$13,700
Health Flexible Spending Accounts
Maximum salary reduction limit$2,600$2,550

* For individuals in the calendar year of their Social Security Normal Retirement Age (SSNRA), $1 in benefits will be withheld for every $3 in earnings above the limit. There is no limit on earnings beginning the month an individual attains SSNRA.

** For individuals under SSNRA, $1 in benefits will be withheld for every $2 in earnings above the limit.

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