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IRS Announces 2015 Pension Plan Limitations; Taxpayers May Contribute Up to $18,000 to Their 401(k) Plans in 2015
The IRS announced on October 23, 2014 cost-of-living adjustments (COLA) applicable to dollar limitations for pension plans and other plan related items for the 2015 tax year. Further information can be found at the IRS website article.
Most notably are the increases to 401(k), 403(b), and 457 retirement plan participant contributions. Considered compensation for plan purposes of the above has also increased.
The following chart illustrates the limits on contributions to Defined Contribution plans for the 2015 plan year as well as previous plan year limits.
Deferrals 401(k); 403(b)
HCE Min. Comp.
Max Plan Comp.
Tax Wage Base
*please contact your Uniglobal plan administrator for full details on any of the above listed amounts and/or code sections.
Uniglobal provides services for business owners and financial advisors across a wide range of retirement plan platforms.