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2017 Benefits Limits


 
 
2016 2017   2016 2017
SECTION 401(k) PLAN and SECTION 403(b) PLAN LIMITS
   
SIMPLIFIED EMPLOYEE PENSIONS (SEP's)
   
Aggregate Section 401(k) pre-tax and Roth salary deferrals by employees
$18,000 $18,000 Compensation at which plan participation is mandatory $600 $600
Maximum Section 403(b) pre-tax and Roth contributions
$18,000 $18,000 SIMPLE PLANS    
Age 50 or older "catch-up" contribution dollar limit
$6,000 $6,000 Deferral limit $12,500 $12,500
COMPENSATION LIMITS     Age 50 or older "catch-up" contributions $3,000 $3,000
Maximum annual includible compensation limit
$265,000 $270,000 PENSION BENEFIT GUARANTY CORPORATION    
STATE/LOCAL AND TAX-EXEMPT SECTION    
Maximum guaranteed monthly benefit at age 65 (single life)
$5,011.33 $5,369.32
457 PLAN LIMITS    
SOCIAL SECURITY
   
Maximum Section 457(e)(15) elective deferral dollar limit by employees $18,000 $18,000 Maximum taxable earnings subject to FICA tax:    
Age 50 or older "catch-up" contribution dollar limit (governmental)
$6,000 $6,000 OASDI portion $118,500 $127,200
ANNUAL SECTION 415 DOLLAR LIMITS     Medicare portion No Limit No Limit
Defined benefit maximum (Section 415(b)) $210,000 $215,000 HEALTH SAVINGS ACCOUNT ("HSA")    
Defined contribution maximum (Section 415(c))
$53,000 $54,000 Maximum Annual Contributions Limits:    
HIGHLY COMPENSATED EMPLOYEES
    Single $3,350 $3,400
Compensation Limit (for look-back year) $120,000 $120,000 Family $6,750 $6,750
EMPLOYEE STOCK OWNERSHIP PLANS     Catch-up (55 or older) $1,000 $1,000
Threshold amount for exception to five-year distribution requirement $1,070,000 $1,080,000 FLEXIBLE SPENDING ACCOUNTS ("FSA")    
Incremental amount for distribution beyond five years
$210,000 $215,000 Health FSA maximum annual employee contribution $2,550 $2,600
KEY EMPLOYEE IN TOP HEAVY PLAN $170,000 $175,000 Dependent Care FSA maximum (unless married filing separately) $5,000 $5,000
 

If you have any employee benefit questions, please contact Doug Ellis at (412) 394-2367 | dellis@clarkhill.com; Nancy Farnam at (248) 530-6222 | nfarnam@clarkhill.com; Ed Hammond at (248) 988-1821 | ehammond@clarkhill.com; or another member of Clark Hill's Labor and Employment Practice Group.