Retirement Plan Limitations for 2015
Insights
11.03.14
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
| 2015 | 2014 | 2013 | |
| Elective Salary Deferrals (401(k) & 403(b)) |
18,000.00 | 17,500.00 |
17,500.00 |
| Catch-Up Contribution (age 50 or older) |
6,000.00 | 5,500.00 |
5,500.00 |
| Maximum Compensation |
265,000.00 | 260,000.00 | 255,000.00 |
| Maximum Benefit for Defined Benefit Plan |
210,000.00 | 210,000.00 | 205,000.00 |
| Maximum Annual Addition for Defined Contribution Plan |
53,000.00 | 52,000.00 | 51,000.00 |
| Pay Threshold to Determine HCE |
120,000.00 | 115,000.00 | 115,000.00 |
| Officer Pay Threshold to Determine Key Employee |
170,000.00 | 170,000.00 | 165,000.00 |
| Social Security Taxable Wage Base (OASDI) |
118,500.00 | 117,000.00 | 113,700.00 |