The IRS has released the cost-of-living adjustments (COLA) applicable to the dollar limitations for qualified plans (and other items) for the 2015 tax year. The regulations places limits on the contributions to 401k plans and IRAs. These limits are adjusted annually for cost-of-living increases.
|Compensation defining highly compensated employee||$120,000||$115,000|
|Compensation defining key employee/officer||$170,000||$170,000|
|Defined contribution plan limit on annual additions||$53,000||$52,000|
|Maximum compensation limit for allocation and accrual purposes||$265,000||$260,000|