Annual Plan Limits

2017 2016 2015 2014
Compensation $270,000 $265,000 $265,000 $260,000
 
Limits on benefits and contributions
Defined contribution plans $54,000 $53,000 $53,000 $52,000
Defined benefit plans $215,000 $210,000 $210,000 $210,000
401(k), 403(b) and 457 plan elective deferrals $18,000 $18,000 $18,000 $17,500
SIMPLE plan elective deferrals $12,500 $12,500 $12,500 $12,000
IRA $5,500 $5,500 $5,500 $5,500
 
Catch-up contributions
401(k), 403(b) and 457 plans $6,000 $6,000 $6,000 $5,500
SIMPLE plans $3,000 $3,000 $3,000 $2,500
IRA $1,000 $1,000 $1,000 $1,000
 
"Highly Compensated" definition $120,000 $120,000 $120,000 $115,000
 
"Key Employee" definition
Officer $175,000 $170,000 $170,000 $170,000
1% owner $150,000 $150,000 $150,000 $150,000
 
Social Security
Taxable wage base $127,200 $118,500 $118,500 $117,800
Social Security tax rate 6.20% 6.20% 6.20% 6.20%
Medicare tax rate 1.45% 1.45% 1.45% 1.45%
Combined tax rate 7.65% 7.65% 7.65% 7.65%

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