Benefits consultant Mercer has projected the contribution and benefit limits for retirement plans for 2017.
Mercer projects qualified DC plan elective deferral and catch-up contribution limits and IRA deductible contributions won’t increase in 2017.
Compensation and Section 415 limits for retirement plans are projected to rise slightly, along with adjusted gross income thresholds for the 10% Saver’s Credit and certain IRA or Roth IRA deductions, according to Mercer, whose projections use the tax code’s rounding and cost-of-living methods, Consumer Price Index for All Urban Consumers (CPI-U) values through August, and Mercer's projected CPI-U value for September.
More information about the 2017 limits is available here, from Xerox HR Services, and here, from 401k help center. The IRS is expected to announce the 2017 limits in October.
