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IRS announces 2017 pension and 401(k) limitations

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The IRS has announced changes for tax year 2017 to dollar limits on benefits and contributions under qualified retirement plans. Generally, the eligible income ranges to make deductible contributions have increased for traditional and Roth IRA plans and 401(k) contribution limits remain unchanged. For more details, visit https://www.irs.gov/uac/newsroom/irs-announces-2017-pension-plan-limitations-401k-contribution-limit-remains-unchanged-at-18000-for-2017.

If you have questions about compliance with these new contribution limits, contact your HK or HKP account manager.