happy holidays

December 2016

Inside this issue:


2017 RETIREMENT PLAN LIMITS ANNOUNCED

The Internal Revenue Service has announced its 2017 inflation-adjusted retirement plan contribution limits for 2017. Deferral limits remained unchanged but most other limits and thresholds increased.

  2015 2016 2017
401(k), 403(b), 457 Elective Deferral Limit
(calendar year)
$18,000 $18,000 $18,000
401(k), 403(b) & 457 Catch-Up Contribution Limit (calendar, plan or limitation year) $6,000 $6,000 $6,000
Annual Compensation Limit
(Plan year BEGIN)
$265,000 $265,000 $270,000
Defined Contribution Limit
(limitation year END)
$53,000 $53,000 $54,000
Defined Benefit Limit at ages 62-65
(limitation year END)
$210,000 $210,000 $215,000
Definition of Highly Compensated Employee (HCE) (Plan year BEGIN) $120,000 $120,000 $120,000
Key Employee Compensation Threshold (plan year END)
5% Owner All All All
Officer $170,000 $170,000 $175,000
Social Security Taxable Wage Base $118,500 $118,500 $127,200
 
IRA Contribution Limit $5,500 $5,500 $5,500
IRA Catch-Up Contributions $1,000 $1,000 $1,000
       

See www.irs.gov for more information.


HAPPY HOLIDAYS FROM MONTGOMERY RETIREMENT PLAN ADVISORS

On behalf of Montgomery Retirement Plan Advisors, I would like to extend to you the greetings of this special season. To our clients, I would like to express our gratitude to you for the privilege of serving as your retirement plan consulting team. To our partners and peers within the retirement plan industry, I sincerely appreciate your support and the confidence you have shown in our firm.

- Mike Montgomery & and your MRPA Team


No strategy assures a profit or protect against loss.

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing.

For Plan Sponsor use only – Not for use with Participants or the General Public. This information was developed as a general guide to educate plan sponsors, but is not intended as authoritative guidance or tax or legal advice. Each plan has unique requirements, and you should consult your attorney or tax advisor for guidance on your specific situation. In no way does advisor assure that, by using the information provided, plan sponsor will be in compliance with ERISA regulations. 

Montgomery Retirement Plan Advisors does not warrant and is not responsible for errors or omissions in the content of this newsletter.

Securities and Retirement Plan Consulting Program advisory services offered through LPL Financial, a Registered Investment Advisor, member FINRA/SIPC. Other advisory services offered through Montgomery Retirement Plan Advisors, a separate entity.

 


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Securities and Retirement Plan Consulting Program advisory services offered through LPL Financial, a Registered Investment Advisor, member FINRA/SIPC. Other advisory services offered through Montgomery Retirement Plan Advisors, a separate entity.

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