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Uniglobal News

Retirement Plan Limits

12/31/2015

 

Limitations on Contributions and Compensation for Retirement Plans Remains Unchanged for 2016

The following chart illustrates the limits on contributions to Defined Contribution plans for the 2016 plan year as well as previous plan year limits.

Wondering what to contribute? The following chart illustrates the limits on contributions to Defined Contribution plans for the 2016 plan year as well as previous plan year limits.

Calendar Year

Annual Additions

Deferrals 401(k); 403(b)

Catch-Up

457(b)

SIMPLE

201653,00018,0006,00018,00012,500
201553,00018,0006,00018,00012,500
201452,00017,5005,50017,50012,000
201351,00017,5005,50017,50012,000



 

Calendar Year

SIMPLE Catch-Up

HCE Min. Comp.

Max Plan Comp.

Tax Wage Base

20163,000120,000265,000118,500
20153,000120,000265,000118,500
20142,500115,000260,000117,000
20132,500115,000255,000113,700


*please contact your Uniglobal plan administrator for full details on any of the above listed amounts and/or code sections.

Please note for 2016:

  1. The Defined Contribution dollar limitation for Annual Additions, §415(c)(1)(A), remains unchanged for 2016 at $53,000.00.
  2. The limitation on cumulative elective deferrals to a 401(k), 403(b) tax deferred annuity, simplified employee pension, and SIMPLE retirement plan in a tax year, as coordinated under IRC §402(g)(1), remains unchanged at $18,000.00.
  3. The limitation on deferrals to a 457 plan under IRC §457(e)(15) are $18,000.00. EGTRRA amended this contribution limit under an eligible 457 deferred compensation plan to be the lesser of 100% of includible compensation or the applicable year's dollar limit, $18,000.00.
  4. The catch-up contribution limit available to eligible participants at least 50 years old making pre-tax contributions to a 401(k), a 403(b), or a governmental 457 plan remains unchanged at $6,000.00.