2014 Retirement & Pension Plan Contribution Limits
The Internal Revenue Code provides for dollar limitations on benefits and contributions under qualified retirement plans. IRC Section 415 requires the limits to be adjusted annually for cost-of-living increases. On October 31, 2014, the IRS announced cost-of-living adjustments applicable to dollar limitations for pension plans and other items for tax year 2014. For more information, go to http://www.irs.gov/Retirement-Plans/COLA-Increases-for-Dollar-Limitations-on-Benefits-and-Contributions.
Max Deferral: 401(k), 403(b) – $17,500
SIMPLE 401(k), SIMPLE IRA – $12,000
Traditional & Roth IRA – $5,500
Catch-Up (50+): 401(k), 403(b) – $5,500
Catch-Up (50+): SIMPLE 401(k) & IRA – $2,500
Catch-Up (50+): Traditional & Roth – $1,000
Annual Limit–Defined Cont. & SEPs – $52,000
Annual Limit on Defined Benefit – $210,000
