The Internal Revenue Code has limits for qualified 401(k) plans on contributions and compensation used to determine employer contributions.
2017 Contribution and Compensation Limits
$18,000 - Combined employee pre-tax and after-tax Roth 401(k) contributions
$6,000 - Employee catch-up contribution limit if age 50 or older anytime during 2017
$54,000 - Total employee plus employer contributions to 401(k) accounts including (does not include any applicable catch-up contributions):
Pre-tax contributions
Roth 401(k) after-tax contributions
Traditional after-tax contributions
Employer match/contributions
$270,000 – Compensation used to determine maximum employer match and maximum employer contribution (for those who first became a plan participant after December 31, 1995)
$400,000 – Compensation used to determine maximum employer match and maximum employer contribution (for those who first became a plan participant before January 1, 1996)
Contribution Rate Change Deadline Schedule
You may make any changes to your contributions, either pre-tax, Roth after-tax or traditional after-tax, through
mylife.jhrps.com or 1-800-294-3575. Please see the
Contribution Rate Change Deadline Schedule for each pay check in 2017.
