Retirement Plan Limits for 2015 & 2016
Individual Plan Limitations | 2015 | 2016 |
IRA Contribution Limit | $5,500 | $5,500 |
IRA Catch-up Contribution Limit | $1,000 | $1,000 |
Coverdell Education Savings Account (CESA) Contribution Limit | $2,000 | $2,000 |
Employer Plan Limitations | 2015 | 2016 |
Defined Benefit Plan Limit | $210,000 | $210,000 |
Defined Contribution Plan Limit | $53,000 | $53,000 |
401(k) Elective Deferral Limit | $12,500 | $12,500 |
401(k) Catch-up Contribution Limit | $6,000 | $6,000 |
Simple Retirement Catch-up Contribution Limit | $3,000 | $3,000 |
Annual Compensation Limit | $265,000 | $265,000 |
SEP Coverage Minimum Compensation Limit | $550 | $550 |
Highly Compensated Employee (HCE) Compensation Limit | $120,000 | $120,000 |
Social Security Wage Base | $118,500 | $118,500 |
