2015 COLA Announced

by | Oct 31, 2014 | What's New

On October 23, 2014, the IRS announced Cost of Living Adjustments (COLA) related to retirement plans effective January 1, 2015.

Highlights include: 

 Qualified Plan Compensation Limit$265,000.00
 Profit Sharing Plan Maximum Plan Contribution Limit$53,000.00
 401(k) Maximum Elective Deferral*$18,000.00
 Catch-Up Contribution Limit 401(k)*$6,000.00
     for participants 50 years old or older during 2014 
Wage Base For Social Security$118,500.00


For more information visit: https://www.irs.gov/Retirement-Plans/COLA-Increases-for-Dollar-Limitations-on-Benefits-and-Contributions