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Contribution limits remain the same

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Griffin KaleppAre you maximizing your retirement contributions? If not, you may wish to re-evaluate the amount you're putting toward retirement. Not only do you lower your taxable income, you ensure that you're doing everything you can to reach your retirement goals.

Annual contribution limits for the 403(b) and IRA retirement savings plans remain unchanged once again this year. The 2017 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, 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.

Griffin Kalepp, Retirement and Investment Services Specialist