2015 COLA Limits

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.

IRS Limits20152014
401(k) deferrals/catch-up$18,000/$6,000$17,500/$5,500
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
IRA contributions/catch-up$5,500/$1,000$5,500/$1,000

 

About Mark Nolan

Each day I speak with energetic entrepreneurs looking to take the plunge into a new venture and small business owners eager to take control of their retirement savings. I am passionate about helping others find their financial independence. Having worked for over 20 years with some of the top retirement account custodian and insurance companies I have a deep and extensive knowledge of the complexities of self-directed 401ks and IRAs as well as retirement plan regulations. Learn more about Mark Nolan and My Solo 401k Financial >>

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