mlrwm_logo        Maximum Benefit & Contribution Limits for 2014
 
 
On October 31, 2013, the IRS announced the annual cost-of-living adjustments to various dollar
limits affecting retirement plans for tax year 2014.

 


Benefit/Contribution Limit


2014 Limit


2013 Limit
Elective Deferral Limit  (for 401(k), 403(b)
and 457 plans)
$17,500 $17,500
Catch-Up Contributions * $5,500 $5,500
Defined Contribution Dollar Limit $52,000 $51,000
Annual Compensation Limit $260,000 $255,000
Highly Compensated Employee (HCE)
Income Limit **
$115,000 $115,000
Key Employee Officer Compensation             $170,000 $165,000
Social Security Taxable Wage Base $117,000 $113,700
SIMPLE Contribution Limit $12,000 $12,000
SIMPLE Catch-Up Contributions * $2,500 $2,500
Defined Benefit Dollar Limit $210,00 $205,000
 
Please contact us at 512-370-3296 if you have any questions.


    *  Catch-up contributions are available to employees age 50 or older during the calendar year.
 
    **  An employee with compensation in excess of $115,000 during 2013 will be a Highly Compensated 
    Employee (HCE) in 2014. An employee with compensation in excess of $115,000 during 2014 will be 
    an HCE in 2015.




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