{"id":2000,"date":"2014-11-24T10:25:11","date_gmt":"2014-11-24T15:25:11","guid":{"rendered":"http:\/\/gtm.com\/business\/?p=2000"},"modified":"2021-03-27T16:06:52","modified_gmt":"2021-03-27T20:06:52","slug":"401k-contribution-limits-for-2015","status":"publish","type":"post","link":"https:\/\/gtm.com\/business\/401k-contribution-limits-for-2015\/","title":{"rendered":"401K Contribution Limits for 2015"},"content":{"rendered":"

\"401KAccording to the IRS, many pension plan limitations will change for 2015 because the increase in cost-of-living met the statutory thresholds that trigger their adjustment. The 401K contribution limits<\/a> for 2015 that participants can elect to contribute on a tax deferred basis is $18,000. (This is also the amount for 403(b) plans and most 457 plans.) The catch-up contribution limit for employees aged 50 and over who participate in 401(k), 403(b), most 457 plans, and the federal government\u2019s Thrift Savings Plan is increased from $5,500 to $6,000.<\/p>\n

Here is a table listing the limits for other types of accounts plus key figures:<\/p>\n\n\n\n\n\n\n\n\n\n\n
Qualified Plan Limits<\/span><\/strong><\/td>\n\n

2015<\/span><\/strong><\/p>\n<\/td>\n

\n

2014<\/span><\/strong><\/p>\n<\/td>\n<\/tr>\n

Defined Contribution Plan Dollar limit on additions on Sections 415(c)(1)(A)<\/span><\/td>\n\u00a0 $53,000<\/span><\/td>\n\u00a0 $52,000<\/span><\/span><\/span><\/span><\/td>\n<\/tr>\n
Defined Benefit Plan limit on benefits <\/span><\/td>\n\u00a0$210,000<\/span><\/td>\n\u00a0$210,000<\/span><\/span><\/td>\n<\/tr>\n
Maximum compensation used to determine contributions<\/span><\/td>\n\u00a0$265,000<\/span><\/td>\n\u00a0$260,000<\/span><\/span><\/td>\n<\/tr>\n
SIMPLE deferrals <\/span><\/td>\n\u00a0$12,500<\/span><\/td>\n\u00a0$12,000<\/span><\/td>\n<\/tr>\n
Compensation defining highly compensated employee\u00a0 <\/span><\/td>\n\u00a0$120,000<\/span><\/td>\n\u00a0$115,000<\/span><\/td>\n<\/tr>\n
Compensation defining key employee (officer) <\/span><\/td>\n\u00a0$170,000<\/span><\/td>\n\u00a0$170,000<\/span><\/span><\/td>\n<\/tr>\n
Compensation triggering Simplified Employee Pension contribution requirement <\/span><\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0 $600\u00a0<\/span><\/td>\n\u00a0\u00a0\u00a0\u00a0 \u00a0$550<\/span><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

For more information, contact GTM<\/a> at (518) 373-4111.<\/p>\n

 <\/p>\n

\u00a9 2014 Thompson Reuters<\/h6>\n","protected":false},"excerpt":{"rendered":"

According to the IRS, many pension plan limitations will change for 2015 because the increase in cost-of-living met the statutory thresholds that trigger their adjustment. The 401K contribution limits for 2015 that participants can elect to contribute on a tax deferred basis is $18,000. (This is also the amount for 403(b) plans and most 457 […]<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[231],"tags":[11,20,26,36,10],"post_folder":[],"class_list":["post-2000","post","type-post","status-publish","format-standard","hentry","category-gtm-biz-blog-hcm","tag-business-payroll","tag-employee-benefits","tag-irs","tag-retirement","tag-small-business"],"_links":{"self":[{"href":"https:\/\/gtm.com\/business\/wp-json\/wp\/v2\/posts\/2000","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gtm.com\/business\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gtm.com\/business\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gtm.com\/business\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/gtm.com\/business\/wp-json\/wp\/v2\/comments?post=2000"}],"version-history":[{"count":1,"href":"https:\/\/gtm.com\/business\/wp-json\/wp\/v2\/posts\/2000\/revisions"}],"predecessor-version":[{"id":9501,"href":"https:\/\/gtm.com\/business\/wp-json\/wp\/v2\/posts\/2000\/revisions\/9501"}],"wp:attachment":[{"href":"https:\/\/gtm.com\/business\/wp-json\/wp\/v2\/media?parent=2000"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gtm.com\/business\/wp-json\/wp\/v2\/categories?post=2000"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gtm.com\/business\/wp-json\/wp\/v2\/tags?post=2000"},{"taxonomy":"post_folder","embeddable":true,"href":"https:\/\/gtm.com\/business\/wp-json\/wp\/v2\/post_folder?post=2000"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}