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Annual Plan Limits

Each year the U.S. government adjusts the limits for qualified plans and Social Security to reflect cost of living adjustments and changes in the law. Many of these limits are based on the "plan year" as defined in the plan document. The elective deferral and catch-up limits are always based on the calendar year.

2015 2014 2013 2012
Compensation $265,000 $260,000 $255,000 $250,000
Limits on benefits and contributions:
  • Defined contribution plans
$53,000 $52,000 $51,000 $50,000
  • Defined benefit plans
$210,000 $210,000 $205,000 $200,000
  • 401(k), 403(b) and 457 plan elective deferrals
$18,000 $17,500 $17,500 $17,000
  • SIMPLE plan elective deferrals
$12,500 $12,000 $12,000 $11,500
  • IRA
$5,500 $5,500 $5,500 $5,000
Catch-up contributions:
  • 401(k), 403(b) and 457 plans
$6,000 $5,500 $5,500 $5,500
  • SIMPLE plans
$3,000 $2,500 $2,500 $2,500
  • IRA
$1,000 $1,000 $1,000 $1,000
"Highly Compensated" definition $120,000 $115,000 $115,000 $115,000
"Key Employee" definition:
  • Officer
$170,000 $170,000 $165,000 $165,000
  • 1% owner
$150,000 $150,000 $150,000 $150,000
Social Security Taxable wage base $118,500 $117,000 $113,700 $110,100
 
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P. O. Box 5126
Ridgewood, NJ 07451-5126
Phone: 201.447.6010
Fax: 201.447.0913

info@planned-retirement.com



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