2017 401(k) and IRA limits remain unchanged

[2035]

https://www.irs.gov/uac/newsroom/ir...ion-limit-remains-unchanged-at-18000-for-2017

 

[Greencheese]

Been waiting for this, sad to see the limits remain unchanged but not surprised given the low inflation as of late.

 

[scrabbler1]

My friend (the snake-bit one whose finances and taxes I help him with) and I were wondering about this (Roth and 457b limits) the other night. We both suspected they would be unchanged for 2017 because the SS increase was nearly zero.

 

[Big_Hitter]

TWB jumped to 127K - 402g and catchup limits didn't change

 

[RetireAge50]

Ok will leave all automatic investment amounts unchanged. Too bad they don't pick a number divisible by 12. [emoji1]

 

[Big_Hitter]

you may have to elect the catchup annually

 

[gauss]

This one changed!

The limitation for defined contribution plans under Section 415(c)(1)(A) is increased in 2017 from $53,000 to $54,000.

Since DW and I make use of this via after-tax (non-Roth) contributions to her 401k that can then be rolled over to a Roth IRA (ie Mega Back Door Roth) this is good news.

-gauss

 

[JohnnyBGoode]

Looking at this reminds me how thoroughly arbitrary these limits are when applied across the entire country. For example - the income phaseout for contributing a deductible amount to an IRA tops out at $72K a year for a single person if you happen to have a company retirement plan. Now I know that is not chump change no matter how you look at it - but $72K means a lot more for someone living in, say, Arkansas vs someone living in Silicon Valley.