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November 5, 2013

2014 Pension and Retirement Plan Limits

The 2014 plan limits, applicable to defined benefit and defined contribution plans, have been issued by the IRS (highlights below).

 

2013

2014

Defined benefit plan annual limit

$205,000

$210,000

Defined contribution plan annual limit

$51,000

$52,000

Elective deferral limit for purposes of cash or deferred arrangements (401(k) plans) and tax-sheltered annuities (403(b) plans)

$17,500

$17,500

Maximum deferral limit for 457 plans

$17,500

$17,500

>Age 50 Catch-up Contribution Limit to 401(k), 403(b) or 457(b) Plans

$5,500

$5,500

Maximum deferral limit for SIMPLE plans

$12,000

$12,000

>Age 50 Catch-up Contribution Limit to SIMPLE Plans

$2,500

$2,500

Minimum compensation considered in determining eligibility for a SEP

$550

$550

Threshold for Highly compensated employee (HCE)

$115,000

$115,000

Key Employee Compensation Limit for Top Heavy Plan Purposes

$165,000

$170,000

Annual compensation limit

$255,000

$260,000

 

 

 

 

 

 

 

Sources:

 

 

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