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Contribution limits remain unchanged

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Brenda EcheverriaAnnual contribution limits for the 403(b) and IRA retirement savings plans remain unchanged from last year. The 2016 limit for the 403(b) is $18,000 and the age 50 and over catch-up is $6,000. For the IRA, the $5,500 limit remains the same for the fourth year in a row, with the age 50 and over catch-up limit an additional $1,000 for a total of $6,500.

Read more about maximizing your contributions, making contribution changes, and automatic contributions.

Brenda Echeverria, Financial Planner