The Internal Revenue Code provides for dollar limitations on benefits and contributions under qualified retirement plans. IRC Section 415 requires the limits to be adjusted annually for cost-of-living increases.
| Description of Limit | 2017 | 2016 | |||
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| 401(k) Elective Deferrals | $ | 18,000 | $ | 18,000 | |
| 403(b)/457 Elective Deferrals | $ | 18,000 | $ | 18,000 | |
| Annual Compensation Limits | $ | 270,000 | $ | 265,000 | |
| Annual Defined Contribution Limits | $ | 54,000 | $ | 53,000 | |
| Catch-up Contributions | $ | 6,000 | $ | 6,000 | |
| Highly Compensated Employees | $ | 120,000 | $ | 120,000 | |
| Social Security Wage Base | $ | 127,200 | $ | 118,500 | |
| Source: Internal Revenue Service. | |||||