The Internal Revenue Service has recently released the new limits to the qualifying pensions and other contribution plans. The limit adjustments take into account new cost-of-living amounts; most important information is summarized in the below table.
| Limitation Code Section |
2015 |
2014 |
2013 |
2012 |
2011 |
2010 |
2009 |
2008 |
| Elective Deferrals §§401(k)/403(b)§402(g)(1) |
18,000 |
17,500 |
17,500 |
17,000 |
16,500 |
16,500 |
16,500 |
15,500 |
| Elective Deferrals §457(b) Plan Special Catch-Up,§§457(e)(15), 457(b)(3) |
18,000 |
17,500 |
17,500 |
17,000 |
16,500 |
16,500 |
16,500 |
15,500 |
|
36,000 |
35,000 |
35,000 |
34,000 |
33,000 |
33,000 |
33,000 |
31,000 |
|
| Age 50+ Catch-Up §414(v)(2)(B)(i) |
6,000 |
5,500 |
5,500 |
5,500 |
5,500 |
5,500 |
5,500 |
5,000 |
| Defined Contribution Plans §415(c)(1)(A) |
53,000 |
52,000 |
51,000 |
50,000 |
49,000 |
49,000 |
49,000 |
46,000 |
| Defined Benefit Plan Limits §415(b)(1)(A) |
210,000 |
210,000 |
205,000 |
200,000 |
195,000 |
195,000 |
195,000 |
185,000 |
| Annual Compensation Limit §401(a)(17) |
265,000 |
260,000 |
255,000 |
250,000 |
245,000 |
245,000 |
245,000 |
230,000 |
| Highly Compensated Employee, §414(q)(1)(B) |
120,000 |
115,000 |
115,000 |
115,000 |
110,000 |
110,000 |
110,000 |
105,000 |
| SIMPLE Maximum Contribution §408(p)(2)(E) |
12,500 |
12,000 |
12,000 |
11,500 |
11,500 |
11,500 |
11,500 |
10,500 |
| Age 50+ SIMPLE Catch-up §414(v)(2)(B)(ii) |
3,000 |
2,500 |
2,500 |
2,500 |
2,500 |
2,500 |
2,500 |
2,500 |
| Key Employees §416(i)(1)(A)(i) |
170,000 |
170,000 |
165,000 |
165,000 |
160,000 |
160,000 |
160,000 |
150,000 |
| IRA/Roth Contribution Limit, §219(b)(5)(A) |
5,500 |
5,500 |
5,500 |
5,000 |
5,000 |
5,000 |
5,000 |
5,000 |
| IRA/Roth Catch-Up Limit §219(b)(5)(B) |
1,000 |
1,000 |
1,000 |
1,000 |
1,000 |
1,000 |
1,000 |
1,000 |
| Social Security Wage Base |
118,500 |
117,000 |
113,700 |
110,100 |
106,800 |
106,800 |
106,800 |
102,000 |
Leave a comment