Human Resources

IRS Announces Retirement Plan Limits for 2015

IRS Announces Retirement Plan Limits for 2015

Author Executive Benefits Team
Date October 23, 2014

The executive benefits team shares this update just released by the IRS regarding the changes for 2015 in the social security taxable wage base, qualified compensation limits, and other aspects of U.S. retirement plan limitations.

The full update appears below.

IRS Announces 2015 Retirement Plan Limits

The IRS announced today the cost of living adjustments for qualified pension and defined contribution plans. The important retirement plan limits for 2014 and 2015 are summarized below:

Elective Deferral Limit for 401(k) and 403(b) Plans$18,000$17,500
Age 50 Catch Up Limit for 401(k) and 403(b) Plans$6,000$5,500
415 Defined Contribution Plan Limit$53,000$52,000
Qualified Compensation Limit$265,000$260,000
Highly Compensated Employee Limit$120,000$115,000
Key Employee Officer Compensation Limit$170,000$170,000
Social Security Taxable Wage Base$118,500$117,000

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