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IRS Announces 2015 Pension Plan Limits

10/31/2014 1:31:21 AM 2015 irs 401k pension 457 403b limit phaseout deferral contribution ira savers credit

The Internal Revenue Service recently announced adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2015.

Highlights include the following:

  • The elective deferral (contribution) limit for employees who participate in 401k, 403b, and most 457 plans is increased from $17,500 to $18,000.
  • The catch-up contribution limit for employees aged 50 and over who participate in 401k, 403b, and most 457 plans is increased from $5,500