10/31/2013

2014 Cost of Living Adjustments Announced

2014 Cost of Living Adjustments Announced

The Internal Revenue Code provides for dollar limitations on benefits and contributions under qualified retirement plans. Today, the Internal Revenue Service announced the 2014 cost-of-living adjustments affecting dollar limitations for qualified retirement plans as follows:

401(k), 403(b), Profit-Sharing Plans, etc. 

 

2014

2013

2012

Annual Compensation

260,000

255,000

250,000

Elective Deferrals

17,500

17,500

17,000

Catch-up Contributions

5,500

5,500

5,500

Defined Contribution Limits

52,000

51,000

50,000

ESOP Limits

1,050,000

210,000

1,035,000

205,000

1,015,000

200,000

Other 

HCE Threshold

115,000

115,000

115,000

Defined Benefit Limits

210,000

205,000

200,000

Key Employee

170,000

165,000

165,000

457 Elective Deferrals

17,500

17,500

17,000

Taxable Wage Base

117,000

113,700

110,100

For a historical chart of the applicable dollar limitations since 1982, click here.

For questions about the qualified plan limitations or any other benefits question, contact a member of Holland & Hart's Benefits Law Group.

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