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  2. REGULATION AND LEGISLATION
October 23, 2014 01:00 AM

IRS adjusts 2015 retirement plan contribution limits for inflation

Hazel Bradford
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    Employees will be able contribute more to their defined contribution plans in tax year 2015, thanks to cost-of-living adjustments announced Thursday by the Internal Revenue Service.

    Contribution limits for employees participating in 401(k), 403(b), most 457 plans and the federal government’s $400 billion Thrift Savings Plan, Washington, will rise to $18,000 from $17,500. Employees aged 50 and over will be able to contribute an additional $6,000, up from the current $5,500 limit.

    The limitation on the annual benefit under a defined benefit plan remains unchanged at $210,000, while the limitation for defined contribution plans increased to $53,000 from $52,000. The definition of a highly compensated employee increased to $120,000 from $115,000.

    For employee stock ownership plans, the maximum account balance subject to a five-year distribution period increased to $1.07 million from $1.05 million, the IRS said.

    Limits on contributions to individual retirement accounts remain unchanged because the statutory thresholds that trigger cost-of-living adjustments were not met. Income limits for tax deductions related to IRA and Roth IRA contributions were raised to adjust for inflation.

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      • Largest Money Managers
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      • World's Largest Retirement Funds
      • Best Places to Work in Money Management
      • Excellence & Innovation Awards
      • Eddy Awards
    • ETFs
      • Latest ETF News
      • Fund Screener
      • Education Center
      • Equities
      • Fixed Income
      • Commodities
      • Actively Managed
      • Alternatives
      • ESG Rated
    • ESG
      • Latest ESG News
      • The Institutional Investor’s Guide to ESG Investing
      • Climate Change: The Inescapable Opportunity
      • Impact Investing
      • 2022 ESG Investing Conference
      • ESG Rated ETFs
    • Defined Contribution
      • Latest DC News
      • DC Money Manager Rankings
      • DC Record Keeper Rankings
      • Innovations in DC
      • Trends in DC: Focus on Retirement Income
      • 2022 Defined Contribution East Conference
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    • Searches & Hires
      • Latest Searches & Hires News
      • Searches & Hires Database
      • RFPs
    • Performance Data
      • P&I Research Center
      • Earnings Tracker
      • Endowment Returns Tracker
      • Corporate Pension Contribution Tracker
      • Pension Fund Returns Tracker
      • Pension Risk Transfer Database
      • Future of Investments Research Series
      • Charts & Infographics
      • Polls
    • Careers
    • Events
      • View All Conferences
      • View All Webinars
      • 2022 Innovation Investing Conference
      • 2022 Defined Contribution East Conference
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      • 2022 Alternatives Investing Conference