What do the new annual savings limits mean for you?
Below are the IRS updates for 2017, which are similar to 2016 due to low inflation. Read on for special opportunities to save more… 401(k), 403(b), 457 Plan deferral Limit: 2016: $18,000, 2017: $18,000 “Catch-up” Contribution >age 50: 2016: $6,000, 2017: $6,000 Defined Contribution Plan Total Dollar Limit: 2016: $53,000, 2017: $54,000 Highly Compensated Employee definition: 2016: $120,000, 2017: $120,000 Click here for full IRS announcement of 2017 limits Some…