♠ Posted by Marc J. Soss in 2016 Retirement Account Contributions,2016 Retirement Limits,florida estate planning,florida probate attorney,florida probate lawyer,Florida Retirement at Wednesday, October 28, 2015
The following chart details the compensation, contribution and benefit limits for 2016. All limits are applicable for the plan year commencing in the respective year, except as stated otherwise below.
|
LIMIT
|
2016
|
2015
|
2014
|
|
401(K)
DEFERRAL CONTRIBUTIONS
|
$18,000
(Calendar Year Limit)
|
$18,000
(Calendar Year Limit)
|
$17,500
(Calendar Year Limit)
|
|
GOVERNMENTS
AND TAX-EXEMPT PLANS DEFERRAL CONTRIBUTIONS
|
$18,000
(Calendar Year Limit)
|
$18,000
(Calendar Year Limit)
|
$17,500
(Calendar Year Limit)
|
|
401(K)/403(B)/
GOVERNMENTAL 457(B) CATCH-UP CONTRIBUTIONS FOR PARTICIPANTS OVER AGE 50
|
$6,000
(Calendar Year Limit)
|
$6,000
(Calendar Year Limit)
|
$5,500
(Calendar Year Limit)
|
|
INCLUDIBLE
COMPENSATION
|
$265,000
|
$265,000
|
$260,000
|
|
ANNUAL
DEFINED CONTRIBUTION PLAN LIMIT (415 LIMIT)
|
$53,000
(Effective for Limitation Years Ending in 2016)
|
$53,000
(Effective for Limitation Years Ending in 2015)
|
$52,000
(Effective for Limitation Years Ending in 2014)
|
|
DEFINED
BENEFIT PLAN ANNUAL BENEFIT LIMITATION
|
$210,000
|
$210,000
|
$210,000
|
|
FICA
WAGE BASE FOR INTEGRATED PLANS
|
$118,500
|
$118,500
|
$117,000
|
|
DEFINITION
OF HIGHLY COMPENSATED EMPLOYEE
|
For
Determining HCEs in 2016, Employees Who Earned More than $120,000 in 2015
|
For
Determining HCEs in 2015, Employees Who Earned More than $115,000 in 2014
|
For
Determining HCEs in 2014, Employees Who Earned More than $115,000 in 2013
|
|
DEFINITION
OF KEY EMPLOYEE (OFFICER COMPENSATION)
|
$170,000
|
$170,000
|
$170,000
|
