6300  22 Mile Road, Suite 3

Shelby Township, MI  48317

(586) 323-1200  or  (517) 455-7003

Retirement Contribution Limits

Maximum contribution limits for those under age 50 and the catch up amount for those 50 and over are as follows;

 

2017:

401(k)’s are $18,000 plus an additional $6,000 catch up if 50 or older.

 

Simple (savings incentive match plan for employees) plans are $12,500 plus an additional $3,000 catch up if 50 or older.

 

IRAs (individual retirement plans) are $5,500 plus an additional $1,000 catch up if 50 or older.

 

2016:

401(k)’s are $18,000 plus an additional $6,000 catch up if 50 or older.

 

Simple (savings incentive match plan for employees) plans are $12,500 plus an additional $3,000 catch up if 50 or older.

 

IRAs (individual retirement plans) are $5,500 plus an additional $1,000 catch up if 50 or older.