What is the 2016 elective deferral limit for 401(k)and 403(b)plans?
A)3 percent of compensation.
B)5 percent of compensation.
C)$12,000.00.
D)$18,000.00.

Question

Quizplus · Accepted Answer

The 2016 elective deferral limit for 401(k) and 403(b) plans is $18,000. This means that employees can contribute up to $18,000 of their income into their employer-sponsored retirement plan. Option A and B are too low, and option C is not correct for the 2016 year.

What Is the 2016 Elective Deferral Limit for 401(k)and 403(b)plans