2015 Retirement Plan Limits
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Benefits Bulletin IRS Announces Retirement Plan Limits for 2015 October 23, 2014; IR 2014-99; Washington; The Internal Revenue Service announced today cost of living adjustments applicable to dollar limits for retirement plans and other items for Tax Year 2015. These adjustments come as a result of annual cost-of-living increases. DESCRIPTION OF LIMIT Internal Revenue Code Section 2015 2014 Cost of Living Limit Increases Maximum Annual Benefit (for Defined Benefit Plans) §415(b)(1)(A) $210,000 $210,000 Maximum Annual Contribution (for Defined Contribution Plans) §415(c)(1)(A) $53,000 $52,000 Annual Compensation Limit §401(a)(17) $265,000 $260,000 Annual Compensation Limit for SEPs §408(k)(2)(c) $600 $550 Key Employee Compensation §416(i)(1)(A)(i) $170,000 $170,000 Highly Compensated Employee Compensation §414(q)(1)(B) $120,000 $115,000 401(k) and 403(b) Deferral Limit §402(g), 403(b)(1)(E) $18,000 $17,500 SIMPLE IRA Deferral Limit §408(p)(2)(E) $12,500 $12,000 Section 457 Deferral Limit §457(e)(15) $18,000 $17,500 Catch-up Contribution Limit for 401(k),403(b) & 457(b) Plans §414(v)(2)(B)(i) $6,000 $5,500 Catch-up Contribution Limit for SIMPLE Plans §414(v)(2)(B)(ii) $3,000 $2,500 Social Security Taxable Wage Base $118,500 $117,000 For additional information, please contact your local July Retirement Plan Consultant: Joe Long, CEBS, CPC, QPA, QPFC, AIF Senior Retirement Plan Consultant July Business Services 888-333-5859 x172 Toll-free [email protected] www.julyservices.com JULY BUSINESS SERVICES Phone 888-333-5859 x172 [email protected] Retirement Services Payroll Services
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Transcript of 2015 Retirement Plan Limits
Benefits Bulletin IRS Announces Retirement Plan Limits for 2015
October 23, 2014; IR 2014-99; Washington; The Internal Revenue Service announced today cost of living adjustments applicable to dollar limits for retirement plans and other items for Tax Year 2015. These adjustments come as a result of annual cost-of-living increases.
DESCRIPTION OF LIMIT Internal Revenue Code Section
2015 2014
Cost of Living Limit Increases
Maximum Annual Benefit (for Defined Benefit Plans) §415(b)(1)(A) $210,000 $210,000
Maximum Annual Contribution (for Defined Contribution Plans) §415(c)(1)(A) $53,000 $52,000
Annual Compensation Limit §401(a)(17) $265,000 $260,000
Annual Compensation Limit for SEPs §408(k)(2)(c) $600 $550
Key Employee Compensation §416(i)(1)(A)(i) $170,000 $170,000
Highly Compensated Employee Compensation §414(q)(1)(B) $120,000 $115,000
401(k) and 403(b) Deferral Limit §402(g), 403(b)(1)(E) $18,000 $17,500
SIMPLE IRA Deferral Limit §408(p)(2)(E) $12,500 $12,000
Section 457 Deferral Limit §457(e)(15) $18,000 $17,500
Catch-up Contribution Limit for 401(k),403(b) & 457(b) Plans §414(v)(2)(B)(i) $6,000 $5,500
Catch-up Contribution Limit for SIMPLE Plans §414(v)(2)(B)(ii) $3,000 $2,500
Social Security Taxable Wage Base $118,500 $117,000
For additional information, please contact your local July Retirement Plan Consultant:
Joe Long, CEBS, CPC, QPA, QPFC, AIF Senior Retirement Plan Consultant July Business Services 888-333-5859 x172 Toll-free [email protected] www.julyservices.com
JULY BUSINESS SERVICES Phone 888-333-5859 x172 [email protected]
Retirement Services Payroll Services
