IRS Releases Pension Plan Limits for 2015

The IRS today announced the 2015 pension plan limits. They are as follows:

  • Employee elective deferral will increase to $18,000 up from $17,500 for this year
  • Catch up contributions for employees 50 and over will actually increase this year to $6,000 up from $5,500
  • Limit on defined contribution plans will increase to $53,000 up from $52,000 for this year
  • Annual compensation limit will increase to $265,000 up from $260,000
  • Definition of highly compensated employee will increase to $120,000 up from $115,000 for this year

For those of you who need the full information on all the various limits please see attached pdf.  IRS 2015 Pension Plan Limitations Complete Text

 

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