Now is a great time to review your current year to date contributions to your company retirement plan. Below are the maximum allowed contribution limits for 2017. All contributions which employees make from their payroll checks, must take place by December 31st. Employer contributions can be made as late as your tax filing date (March 15th for Corporations and Partnerships, April 17th for individuals, sole proprietors, self-employed) plus any extensions. For IRA and Solo 401k contributions you have until April 17 plus extensions.
| RETIREMENT PLAN TYPE | EMPLOYEE |
| LIMIT | |
| 401k, 403b, 457, Solo 401k | $18,000 |
| Catch-up contribution (>=50 years age) | $6,000 |
| SIMPLE plan | $12,500 |
| Catch-up contribution (>=50 years age) | $3,000 |
| IRA and Roth IRA | $5,500 |
| Catch-up contribution (>=50 years age) | $1,000 |
Stay tuned the tax overhaul bills being floated in the Senate could have an impact on pretax contribution limits as soon as 2018.