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