2014 Retirement Plan Limits

By kanderson

November 7, 2013

Each year, the Internal Revenue Service (IRS) publishes updated dollar limitations for tax-qualified defined benefit and defined contribution plans (including 401(k) plans). Changes to these limitations have been announced for the 2014 plan year and are effective January 1, 2014.


2014 Qualified Plan Limits


  2008 2009 2010 2011 2012 2013 2014
Elective
Defferals
$15,500 $16,500 $16,500 $16,500 $17,000 $17,000 $17,500
Elective
Defferals-
SIMPLE
$10,500 $11,500 $11,500 $11,500 $11,500 $12,000 $12,000
Catch-Up
Contributions
$5,000 $5,500 $5,500 $5,500 $5,500 $5,500 $5,500
Catch-Up
Contributions
SIMPLE
$2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500
DB Plan
Annual
Benefit Limit
$185,000 $195,000 $195,000 $195,000 $200,000 $205,000 $210,000
DC Plan 415
Limit
$46,000 $49,000 $49,000 $49,000 $50,000 $51,000 $52,000
Compensation
Limit
$230,000 $245,000 $245,000 $245,000 $250,000 $255,000 $260,000
Top Heavy
Key Employee
$150,000 $160,000 $160,000 $160,000 $165,000 $165,000 $170,000
ESOP 5-Year
Distribution Max
$935,000 $985,000 $985,000 $985,000 $1,015,000 $1,035,000 $1,050,000
ESOP 5-Year
Lengthening
Amount
$180,000 $195,000 $195,000 $195,000 $200,000 $205,000 $210,000
Highly
Compensated
Employee
$105,000 $110,000 $110,000 $110,000 $115,000 $115,000 $115,000

You may view the complete list of updated limits here. We encourage participants to call Soltis Investment Advisors with questions or concerns regarding their account.  Soltis can be reached at (800) 735-1601.


 

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