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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