The Internal Revenue Service has announced the 2015 cost-of-living adjustments affecting dollar limitations on benefits from and contributions to qualified retirement plans.
For more information about these adjustments and other 2015 pension plan limitations, click here.
ANNUAL PLAN LIMITS
|Compensation||$ 265,000||$ 260,000|
|Limits on benefits and contributions:|
|Defined contribution plans||53,000||52,000|
|Defined benefit plans||210,000||210,000|
|401(k), 403(b) and 457 plan elective deferrals||18,000||17,500|
|SIMPLE plan elective deferrals||12,500||12,000|
|401(k), 403(b) and 457 plans||6,000||5,500|
|"Highly Compensated" definition||120,000||115,000|
|"Key Employee" definition:|
|Taxable wage base:||118,500||117,000|