News & Resources


2016 Retirement and Tax Reference Numbers


 

For retirement plan participants, 2016 marks a year of no changes for retirement plan deferral rates.  In order for annual limits to change, certain statutory thresholds need to be triggered based on a change in the cost-of-living index.  Those thresholds were not met so 2016 will be a year of status quo.  Conversely, 2015 marked a year of significant changes including the first change for some limits in over five years.  Below is an outline of the historical rates for retirement plans.  The 2016 Key Numbers includes a comprehensive list of income tax rates, education deductions, estate tax rates and more.

 

 

Chart of Select Limits

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

401k Plan Limits for Year

2016

2015

2014

2013

2012

2011

2010

401k Elective Deferrals

$18,000

$18,000

$17,500

$17,500

$17,000

$16,500

$16,500

Annual Defined Contribution Limit

$53,000

$53,000

$52,000

$51,000

$50,000

$49,000

$49,000

Annual Compensation Limit

$265,000

$265,000

$260,000

$255,000

$250,000

$245,000

$245,000

Catch-Up Contribution Limit

$6,000

$6,000

$5,500

$5,500

$5,500

$5,500

$5,500

Highly Compensated Employees

$120,000

$120,000

$115,000

$115,000

$115,000

$110,000

$110,000

 

Non-401k Related Limits

403(b)/457 Elective Deferrals

$18,000

$18,000

$17,500

$17,500

$17,000

$16,500

$16,500

SIMPLE Employee Deferrals

$12,500

$12,500

$12,000

$12,000

$11,500

$11,500

$11,500

SIMPLE Catch-Up Deferral

$3,000

$3,000

$2,500

$2,500

$2,500

$2,500

$2,500

SEP Minimum Compensation

$600

$600

$550

$550

$550

$550

$550

SEP Annual Compensation Limit

$265,000

$265,000

$260,000

$255,000

$250,000

$245,000

$245,000

Social Security Wage Base

$118,500

$118,500

$117,000

$113,700

$110,100

$106,800

$106,800

 

2016 Key Numbers PDF

 

 

 

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