The Internal Revenue Service has released the 2015 cost of living adjustments affecting dollar limits on benefits and contributions under qualified retirement plans. http://www.irs.gov/uac/Newsroom/IRS-Announces-2015-Pension-Plan-Limitations;-Taxpayers-May-Contribute-up-to-$18,000-to-their-401(k)-plans-in-2015 The following chart summarizes 2015 retirement plan limits and other benefit plan limits. The 2014 limits are also listed for reference purposes.
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2014
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2015
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Elective Deferral Limit 401(k), 403(b), 457(b)
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$17,500
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$18,000
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Catch-up Limit (age 50+)
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$5,500
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$6,000
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Defined Benefit Limit
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$210,000
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$210,000
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Defined Contribution Limit
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$52,000
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$53,000
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Dollar Limit – Highly Compensated Employees
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$115,000
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$120,000
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Officer-Key Employee
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$170,000
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$170,000
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Annual Compensation Limit
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$260,000
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$265,000
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SEP Eligibility Compensation Limit
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$550
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$600
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SIMPLE Deferral Limit
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$12,000
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$12,500
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SIMPLE Catch-up Limit (age 50+)
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$2,500
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$3,000
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Social Security Taxable Wage Base
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$117,000
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$118,500
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ESOP 5 Year Distribution Extension
Account minimum
Additional amount for 1 year extension
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$1,050,000
$210,000
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$1,070,000
$210,000
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HSA (self/family)
Maximum annual contribution
HDHP minimum deductible limits
Out-of-pocket expense annual maximum
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$3,300/$6,550
$1,250/$2,500
$6,350/$12,700
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$3,350/$6,650
$1,300/$2,600
$6,450/$12,900
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