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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 | 1.2% |
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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. |
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* 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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