Benefit and Contribution Limits for 2015
The Commissioner of Internal Revenue has adjusted the dollar limitations for benefits and contributions that apply to retirement plans. The Social Security Administration has also increased the Social Security taxable wage base. The following chart shows the 2015 limits and the expiring limits for 2014.
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Benefit Limits Under the Internal Revenue Code and Social Security |
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Description |
2014 Limit |
2015 Limit |
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Compensation Cap under 401(a)(17) |
$260,000 |
$265,000 |
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Elective Deferral Limitation under 402(g)(1) for elective deferrals for 401(k) plans, SEPs and 403(b) plans |
$17,500 |
$18,000 |
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Catch Up Contributions for Individuals Age 50 and Older For SIMPLE IRAs or SIMPLE 401(k) plans |
$5,500 $2,500 |
$6,000 $3,000 |
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Defined Benefit Maximum |
$210,000 |
$210,000 |
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Defined Contribution Maximum |
$52,000 |
$53,000 |
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Highly Compensated Employee Compensation Limit Key Employee in Top-Heavy Plans Compensation Limit |
$115,000 $170,000 |
$120,000 $170,000 |
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ESOP Threshold for determining maximum account balance subject to 5-year distribution period Regular Limit |
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SEP Compensation Threshold for Participation |
$550 |
$600 |
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SIMPLE IRA Maximum Pre-Tax Contribution |
$12,000 |
$12,500 |
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Deferral Limit for Governments and Tax-Exempts (457(b)) |
$17,500 |
$18,000 |
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IRA Maximum Deduction IRA Age 50 Catch Up |
$5,500 $1,000 |
$5,500 $1,000 |
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Maximum AGI for Roth IRA |
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Social Security Taxable Wage Base |
$117,000 |
$118,500 |
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Health Savings Account Maximum Contributions Family Coverage |
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