Date: November 3, 2014 The Internal Revenue Service has announced cost of living adjustments affecting dollar limitations for retirement plan contributions and benefits for 2015. Highlights include the following:
2015 Retirement Plan Limits
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|
2015 |
2014 |
2013 |
|
Elective Salary Deferrals (401(k) & 403(b)) |
18,000.00 |
17,500.00 |
17,500.00 |
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|
Catch-Up Contribution (age 50 or older) |
6,000.00 |
5,500.00 |
5,500.00 |
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Maximum Compensation |
265,000.00 |
260,000.00 |
255,000.00 |
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|
Maximum Benefit for Defined Benefit Plan |
210,000.00 |
210,000.00 |
205,000.00 |
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Maximum Annual Addition for Defined Contribution Plan |
53,000.00 |
52,000.00 |
51,000.00 |
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Pay Threshold to Determine HCE |
120,000.00 |
115,000.00 |
115,000.00 |
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Officer Pay Threshold to Determine Key Employee |
170,000.00 |
170,000.00 |
165,000.00 |
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Social Security Taxable Wage Base (OASDI) |
118,500.00 |
117,000.00 |
113,700.00 |
