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Employee Benefits Syracuse NY Insurance, Retirement Specialists in Syracuse NY

COLA Limits

Plan/IRA Limits 2017 2016 2015
401(k), 403(b), and SARSEP maximum deferral $18,000 $18,000 $18,000
457 maximum deferral $18,000 $18,000 $18,000
Catch-up for 401(k), 403(b), SARSEP, and 457 $6,000 $6,000 $6,000
SIMPLE election maximum deferral $12,500 $12,500 $12,500
Catch-up for SIMPLE $3,000 $3,000 $3,000
Defined Benefit-annual benefit $215,000 $210,000 $210,000
Defined Contribution-annual contributions $54,000 $53,000 $53,000
IRA limit $5,500 $5,500 $5,500
IRA catch-up $1,000 $1,000 $1,000
Compensation Limits 2017 2016 2015
Maximum compensation $270,000 $265,000 $265,000
SEP annual compensation floor $600 $600 $600
Highly Compensated Employees 2017 2016 2015
Any employee compensation $120,000 $120,000 $120,000
Key Employees 2017 2016 2015
Officer compensation $175,000 $170,000 $170,000
1% owner $150,000 $150,000 $150,000
Covered Compensation Limits 2017 2016 2015
Social Security $127,200 $118,500 $118,500
IRA Phase-out Range and Limits* 2017 2015 2015
Single Covered by employer plan
$62,000-72,000
$61,000-71,000
$61,000-71,000
Married filing jointly Covered by employer plan
$99,000-119,000
$98,000-118,000
$98,000-118,000
Married filing jointly Not covered but spouse is covered
$186,000-196,000
$184,000-194,000
$183,000-193,000
Roth IRA Phase-out Range and Limits 2017 2016 2015
Single
$118,000-133,000
$117,000-132,000
$116,000-131,000
Married filing jointly
$186,000-196,000
$184,000-194,000
$183,000-193,000

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