IRS Announces 2015 Pension Plan Limitations
Today the IRS announced the cost of living adjustments for 2015 with respect to dollar limitations for pension plans and other retirement-related items. For example, participants in 401k plans can contribute up to $18,000 next year, and 401k catch-up contributions for participants age 50 and over will increase from $5,500 to $6,000. Although the limitations are not yet posted on the IRS' website, click here to view the IRS' newswire listing all of the updated limits. Please contact Jan Marsh with any questions on these adjustments.
- Employee Benefits and Executive Compensation