New 2016 IRS Limits – Essentially the Same as 2015

401k Plan Limits for Year 2016 2015
401k Elective Deferrals $18,000 $18,000
Annual Defined Contribution Limit $53,000 $53,000
Annual Compensation Limit $265,000 $265,000
Catch-Up Contribution Limit $6,000 $6,000
Highly Compensated Employees $120,000 $120,000
Non-401k Related Limits
403(b)/457 Elective Deferrals $18,000 $18,000
SIMPLE Employee Deferrals $12,500 $12,500
SIMPLE Catch-Up Deferral $3,000 $3,000
SEP Minimum Compensation $600 $600
SEP Annual Compensation Limit $265,000 $265,000
Social Security Wage Base $118,500 $118,500

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