2016 Retirement Savings Plan Contribution Limits
The information below summarizes the retirement plan contribution limits for 2016.
|Plan||Normal Limit||"Age 50" Catch-up Limit||"Pre-Retirement" Catch-up Limit|
N/A = Not applicable
View 2015 contribution limits.
More details on the retirement plan limits are available from the IRS.
The normal contribution limit for elective deferrals to a 457 deferred compensation plan remains unchanged at $18,000 in 2016. Employees age 50 or older may contribute up to an additional $6,000, for a total of $24,000. Employees taking advantage of the special pre-retirement catch-up may be eligible to contribute up to double the normal limit, for a total of $36,000.
The total contribution limit for 401(a) defined contribution plans under section 415(c)(1)(A) remains unchanged at $53,000 in 2016. This includes both employer and employee contributions.
The annual elective deferral limit for 401(k) plan employee contributions remains $18,000 in 2016. Employees age 50 or older are eligible to contribute up to an additional $6,000, for a total of $24,000.
The total contribution limit for both employee and employer contributions to 401(k) defined contribution plans under section 415(c)(1)(A) remains $53,000 ($59,000 if age 50 or older).
The contribution limit for Traditional and Roth IRAs remains $5,500 in 2016. Employees age 50 or older are eligible to contribute an additional $1,000, for a total of $6,500 (no change from 2015).