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Annual Plan Limits

LIMITATION TYPE 2017 2016 2015
Elective Deferrals (401(k) and 403(b); not including adjustments and catch-ups) $18,000 $18,000 $18,000
457(b)(2) and 457(c)(1) Limits (not including catch-ups) $18,000 $18,000 $18,000
Section 414(v) Catch-Up Deferrals to 401(k), 403(b), 457(b), or SARSEP Plans 4 $6,000 $6,000 $6,000
Defined Benefit Plans $215,000 $210,000 $210,000
Defined Contribution Plans (annual additions limit) $54,000 $53,000 $53,000
Annual Compensation Limit $270,000 $265,000 $265,000
Annual Compensation Limit for Grandfathered Participants in Governmental Plans Which Followed 401(a)(17) Limits (With Indexing) on July 1, 1993 $400,000 $395,000 $395,000
Highly Compensated Employee (“HCEs”) $120,000 $120,000 $120,000
Key Employee/Officer $175,000 $170,000 $170,000
Individual Retirement Accounts (“IRAs”), for individuals 49 and below $5,500 $5,500 $5,500
Individual Retirement Accounts (“IRAs”), for individuals 50 and above $6,500 $6,500 $6,500
SIMPLE Retirement Accounts $12,500 $12,500 $12,500
SEP Coverage $600 $600 $600
SEP Compensation $270,000 $265,000 $265,000
Tax Credit ESOP Maximum Balance $1,080,000 $1,070,000 $1,070,000
Amount for Lengthening of 5-Year ESOP Period $215,000 $210,000 $210,000
Maximum Amount for Qualified Longevity Annuity Contract Purchases $125,000 $125,000 $125,000
Income Subject to Social Security Tax $127,200 $118,500 $118,500
FICA Tax for employers 7.65% 7.65% 7.65%
FICA Tax for employees 7.65% 7.65% 7.65%
Social Security Tax for employers 6.2% 6.2% 6.2%
Social Security Tax for employees 6.2% 6.2% 6.2%
Medicare Tax for employees and employers 1.45% 1.45% 1.45%
SECA Tax for self-employed workers 15.3% 15.3% 15.3%
Social Security Tax for self-employed workers 12.4% 12.4% 12.4%
Medicare Tax for self-employed workers 2.9% 2.9% 2.9%