Earlier today, the Internal Revenue Service issued the various retirement plan limitations for 2016. The most important numbers have not changed from 2015.

• Elective Deferral Limit—$18,000
• Catch-Up Contributions—$6,000
• 415 (Total) Plan Limit—$53,000
• Compensation Limit—$265,000

See an up-to-date chart that shows the historical limits from 2012 through 2016, and a reference to the IRS sources.

For more information regarding these updates please contact Matthew J. Flanary at (262) 364-0253 or at mflanary@buelowvetter.com.