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    2016 Employee Benefits Plan Limits

    The IRS has announced the retirement plan limits for 2016.  As you can see from the chart below, there are no changes from the limits set in 2015.  

    Code Section20162015
    401(a)(17)/404(l) – Annual Compensation$265,000$265,000
    402(g)(1) – Elective Deferrals18,00018,000
    408(k)(2)(C) – SEP Minimum Compensation600600
    408(k)(3)(C) – SEP Maximum Compensation265,000265,000
    408(p)(2)(E) – SIMPLE Maximum Contributions12,50012,500
    409(o)(1)(C) – ESOP Maximum Account Balance1,070,0001,070,000
    409(o)(1)(C) – ESOP Maximum Dollar Amount210,000210,000
    414(q)(1)(B) – Highly Compensated Employee Threshold120,000120,000
    414(v)(2)(B)(i) – Catch-up Contribution6,0006,000
    414(v)(2)(B)(ii) – Catch-up Contribution – SIMPLE 401(k) Plans3,0003,000
    415(b)(1)(A) – Defined Benefit Annual Benefit Limit210,000210,000
    415(c)(1)(A) – Defined Contribution Annual Addition Limit53,00053,000
    416(i)(1)(A)(i) – Key Employee Dollar Limit170,000170,000
    457(e)(15) – 457(b) Salary Deferral Limit18,00018,000

      The limits for Health Savings Accounts and High Deductible Health Plans, listed below, were announced earlier in the year.  

    Code Section20162015
    223(c) – HDHP Minimum Annual Deductible – Self-Only$1,300$1,300
    223(c) – HDHP Minimum Annual Deductible – Family2,6002,600
    223(c) – HDHP Out-of-Pocket Maximum – Self-Only6,5506,450
    223(c) – HDHP Out-of-Pocket Maximum – Family13,10012,900
    223(b) – HSA Maximum Contribution Limit – Self-Only3,3503,350
    223(b) – HSA Maximum Contribution Limit – Family6,7506,650
    223(b) – HSA Catch-Up Contribution Limit1,0001,000


    October 27, 2015

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