IRS 2017 Plan Limits Announced

The IRS announced the 2017 annual limits for employee benefit plans, including the following:

• The maximum retirement plan annual elective deferral remains unchanged at $18,000, and the catch-up contribution (age 50+) remains unchanged at $6,000.
• The health FSA plan year maximum employee election increases from $2,550 to $2,600. The dependent care FSA calendar year maximum benefit remains unchanged.
• The HSA calendar year maximum contribution for single coverage increases from $3,350 to $3,400, but for family coverage the maximum contribution remains unchanged at $6,750.
• The transit and parking limits remain unchanged at $255 per month for each account.

Click here for our detailed table of IRS employee benefit plan limits.