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ARTICLE · 01 NOVEMBER 2016

IRS Publishes 2017 Pension Plan Limitations

Day Pitney LLP
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On October 27, the IRS announced the cost-of-living adjustments applicable to certain dollar limitations for employee pension benefit plans for 2017.

United StatesEmployment and HR
David Doyle
David Doyle
Kathy Lawler
Kathy Lawler
Liza Hecht
Liza Hecht
Daphney François
Daphney François
Ajay Gogna
Ajay Gogna
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On October 27, the IRS announced the cost-of-living adjustments applicable to certain dollar limitations for employee pension benefit plans for 2017. The resulting dollar limits are as follows:

  • The annual benefit limit for defined benefit plans is increased from $210,000 to $215,000.
  • The annual addition limit for defined contribution plans is increased from $53,000 to $54,000.
  • The annual limit with respect to the exclusion for elective deferrals to a 401(k), 403(b) or 457 plan remains unchanged at $18,000.
  • The limit on annual contributions to an individual retirement arrangement (IRA) remains unchanged at $5,500. The dollar limit for an additional catch-up contribution to an IRA for individuals age 50 or older remains unchanged at $1,000.

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