General Information

   

2017 LIMITS FOR BENEFIT PLAN

The Benefit Plan limits for 2017 have been published and are provided for your information.

Annual limit for 401(k) Plan Deferrals $18,000.00
Annual limit for 401(k) Catch Up contributions $6,000.00
Definition of "Highly" Compensated $120,000.00
Social Security Wage Base $127,000.00
Social Security Tax 6.2%
NAF Retiree COLA 0%

Medicare tax remains at 1.45% (2.35% for higher income individuals. ($200,000 for single tax filers and $250,000 for couples filing jointly ($125,000 married filing separately)).

Dependent Care (for FSA) annual max deferral remains at $5,000.00

Health Care (for FSA) annual max dererral increases to $2,600.00

For the NAF Retirement Plan- There will be no increase for eligible retirees in 2016.

* There is no discrimination testing for 401(k) Plans, but discrimination testing is applicable for FSA Dependent Care and Health Care.

 

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