2015 Defined Contribution Plans
The IRS highlighted the following adjustments taking effect on January 1, 2015:
For 401(k), 403(b) and most 457 plans, the COLA increases for dollar limits on benefits and contributions are as follows:
Defined Contribution Plan Limits |
2015 |
2014 |
|
|
Maximum employee elective deferral |
$18,000 |
$17,500 |
|
|
Employee catch-up contribution (ages 50 and older) |
$6,000 |
$5,500 |
|
|
Defined contribution maximum limit, all sources |
$53,000 |
$52,000 |
|
|
Defined contribution maximum limit (ages 50 and older) |
$59,000 |
$57,500 |
|
|
Employee compensation limit for calculating contributions |
$265,000 |
$260,000 |
|
|
Compensation of “key employees” in a top-heavy plan (unchanged) |
$170,000 |
$170,000 |
|
|
Compensation of “highly compensated employees” |
$120,000 |
$115,000 |