Employee Benefits Update: Updated Cost-of-Living Adjustments for 2017 Issued for Your Retirement Pla Employee Benefits Update: Updated Cost-of-Living Adjustments for 2017 Issued for Your Retirement Pla

Employee Benefits Update: Updated Cost-of-Living Adjustments for 2017 Issued for Your Retirement Plan Administration

The Internal Revenue Service has announced its annual cost-of-living adjustments for 2017. However, because the cost-of-living index increase was not significant enough to trigger COLA adjustments to the retirement plan limits, the 2017 limits on the chart mostly remain unchanged from the 2016 limitations.
 
To assist plan sponsors, Ice Miller's updated Cost-of-Living Adjustment (COLA) chart lists the cost-of-living adjustments to retirement plan limitations for the years 2007 through 2017. We have included the adjusted limits, as well as Pension Benefit Guaranty Corporation (PBGC) guarantees, and Social Security and Medicare contribution rates and wage bases for the past 10 years, as a handy reference tool.
   
To discuss the impact of these cost-of-living adjustments, please contact the attorney with whom you work in the Ice Miller Employee Benefits group. Also, if you would like a laminated copy of the chart, please e-mail your name and address to diane.sweeney@icemiller.com.

This publication is intended for general information purposes only and does not and is not intended to constitute legal advice. The reader must consult with legal counsel to determine how laws or decisions discussed herein apply to the reader's specific circumstances.
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