2016 Retirement Plan Limits

The IRS announced yesterday the 2016 Retirement Plan Limits – the current 401(k) elective deferral maximum amount  of $18,000 remains the same for 2016 as does the maximum Catch-up contribution of $6,000 for participants 50 years of age and older.  Attached for your reference is sheet that provides historical details regarding these limits and other limits related to retirement plans.

2016 Retirement Plan Limits

Call Michael Schork – Ann Arbor State Advisors at 734.418.7932