News & Announcements

IRS Released New Figures for Retirement Plans, Adjusted for the Cost of Living

Posted Tuesday, January 3, 2017 3:15 pm

The Internal Revenue Service released updated pension plan and retirement related limitations for 2017, adjusted for the cost-of-living.  Some highlights of the new limits detailed in Notice 2016-62, such as the adjusted gross income (AGI) phase out range for IRAs and Roth IRAs, are listed below:

 

IRA Charts

 
Contribution Limits
 
The contribution limits for the following remain unchanged from 2016:
 
  • Employee contribution limit for 401(k), 403(b), most 457 plans, and the federal government's Thrift Savings Plan - $18,000

 

  • Employee catch-up contribution limit for employees aged 50 and over who participate in 401(k), 403(b), most 457 plans, and the federal government's Thrift Savings Plan - $6,000

 

  • Contribution to IRA - $5,500

 

  • Catch-up contribution to IRA for individuals aged 50 and over - $1,000
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