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Contribution Limits

Year 2015 2016
Maximum annual IRA contribution (under age 50) $5,500 $5,500
Maximum annual IRA contribution (age 50 or over) $6,500 $6,500
Maximum annual 401(k), 403(b), or 457 salary-deferral limit (under age 50) $18,000 $18,000
Maximum annual 401(k), 403(b), or 457 salary-deferral limit (age 50 or over)* $24,000 $24,000
Maximum annual additions limit under defined contribution plan $53,000 $53,000
Maximum includible compensation for computing contributions $265,000 $265,000
Maximum SIMPLE salary-deferral limit (under age 50) $12,500 $12,500
Maximum SIMPLE salary-deferral limit (age 50 or over) $15,500 $15,500
Minimum annual compensation for determining a "highly compensated" employee (used in 401(k) nondiscrimination tests) $120,000 $120,000
Minimum annual compensation amount for SEP participation $600 $600

* Only 457(b) plans of state and local governments may allow catch-up contributions for participants who are aged 50 or older. Some plans also allow Special 457(b) catch-up contributions. Refer to your plan details for further information.

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