On October 21, 2015, the IRS announced the 2016 dollar limitations for retirement plans based on the applicable cost-of-living adjustment guidelines. The retirement plan limitations generally will not change for 2016 because of the growth in the cost-of-living index did not meet the required statutory thresholds to trigger any increases. The calendar year limit for elective deferrals to 401(k) and 403(b) plans will remain at $18,000, and the calendar year limit for catch-up contributions for individuals age 50 or over also will remain at $6,000. The Social Security Administration also recently announced that the Social Security wage base will remain at $118,500 for 2016. 

Listed below are the principal limits applicable for 2016 and 2015. 
 

Limit	2016	2015
Compensation Limit	$265,000	$265,000
Elective Deferrals (401(k), 403(b), 457(b))	$18,000	$18,000
Catch-up Contributions	$6,000	$6,000
Defined Contribution Plan 415 Limit	$53,000	$53,000
Defined Benefit Plan 415 Limit	$210,000	$210,000
Highly Compensated Employee	$120,000	$120,000
Social Security Wage Base	$118,500	$118,500
SIMPLE Plan Limit	$12,500	$12,500
SIMPLE Catch-up Contributions	$3,000	$3,000