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2015 COLA Amounts

October 24, 2014

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Yesterday, the IRS announced cost-of-living adjustments (COLA) affecting dollar limitations for qualified plans for tax year 2015. The plan limit for 401(k), 403(b) and most 457 plans is increased from $17,500 to $18,000, and the catch-up contribution limit will increase from $5,500 to $6,000. Also, the defined contribution 415 limit will be $53,000 for 2015. For all of the specific details, access the IRS’s announcement.

2015 COLA Amounts

Salary Deferral Contribution Limit

$  18,000

Catch Up Contribution Limit

$    6,000

Compensation Limit

$ 265,000

Highly Compensated Employee Compensation Limit

$ 120,000

Section 415 Annual Addition Limit

$  53,000

Social Security Taxable Wage Base

$ 118,500

Defined Benefit Plan Annual Benefit Limit

$ 210,000

SIMPLE Salary Deferral Contribution Limit

$   12,500

SIMPLE Catch Up Contribution Limit

$   3,000

All content provided in this article is for informational purposes only. Matters discussed in this article are subject to change. For up-to-date information on this subject please contact a Clark Schaefer Hackett professional. Clark Schaefer Hackett will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within these pages or any information accessed through this site.

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