10/23/2014

2015 Cost of Living Adjustments Announced

2015 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 2015 cost-of-living adjustments affecting dollar limitations for qualified retirement plans as follows:

401(k), 403(b), Profit-Sharing Plans, etc.
  2015 2014 2013
Annual Compensation 265,000 260,000 255,000
Elective Deferrals 18,000 17,500 17,500
Catch-up Contributions 6,000 5,500 5,500
Defined Contribution Limits 53,000 52,000 51,000
ESOP Limits 1,070,000
210,000
1,050,000
210,000
1,035,000
205,000
Other
HCE Threshold 120,000 115,000 115,000
Defined Benefit Limits 210,000 210,000 205,000
Key Employee 170,000 170,000 165,000
457 Elective Deferrals 18,000 17,500 17,500
Taxable Wage Base 118,500 117,000 113,700


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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