What are the 401(k) limits on employee deferrals and other contributions for 2016?
2016 Limits
Below are limits applicable to 401(k) plans.
|
Limit |
Pro-Rate for Short Year* |
2016 |
|---|---|---|
|
Annual Compensation |
Yes |
$265,000 |
|
Elective Deferrals |
No |
$18,000 |
|
Catch-Up Contributions |
No |
$6,000 |
|
415 Limit |
Yes |
$53,000 |
|
Social Security Wage Base |
Yes |
$118,500 |
|
HCE - Compensation |
No |
$120,000 |
|
Key Employee - Officer Compensation |
No |
$170,000 |
|
Key Employee - 1% Owner Compensation |
No |
$150,000 |