The IRS recently released Notice 2016-62, which lists the new limitations on various benefits and contributions for 2017. A link to the official Notice can be found below. While the Secretary of Treasury adjusts the limits every year due to changes in the standard of cost of living, when it came to 401K contributions, apparently they did not see a need for a change. As such, the allowable contribution amount for a standard 401K plan remains $18,000.00.