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IRS Announces 2015 Retirement Plan Limits

The IRS has announced the 2015 cost-of-living adjustments for retirement plan related limitations, with almost all of the most watched figures increasing slightly from 2014.  The 401(k) deferral limitation increased from $17,500 to $18,000 (the additional catch-up contribution limit for those over 50 increased from $5,500 to $6,000), the annual defined contribution plan maximum limit has increased from $52,000 to $53,000, the SIMPLE IRA deferral limitation increased from $12,000 to $12,500, and the annual compensation limit for contribution calculations has increased from $260,000 to $265,000.

The IRS press release, which includes all of the 2015 retirement plan limitation figures, is available here.