The IRS published cost-of-living adjustments to various qualified retirement plans and related amounts for 2017. Many of the limits pertaining to pension and other retirement plans have changed. For instance, the (1) benefit limit for defined benefit plans has increased from $210,000 to $215,000; (2) defined contribution plan limit has increased from $53,000 to $54,000; and (3) compensation limit for determining benefits and contributions has increased from $265,000 to $270,000. However, some limits remain the same. For example, the (1) compensation limit for defining a highly-compensated employee remains at $120,000; (2) elective deferral limit for employees participating in 401(k), 403(b), and most 457 plans remains at $18,000; and (3) limit on elective deferrals to SIMPLE accounts remains at $12,500. News Release IR 2016-141 ; Notice 2016-62, 2016-46 IRB
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