2015 Adjustments for Retirement Plans & Social Security

Announcements are rolling out for cost-of-living adjustments to retirement plan limits, Social Security benefits and other tax calculations, as below. The official adjustment for Social Security benefits is 1.7%, up slightly from 1.5% in 2014.  Inflation remains subdued and some categories saw little or no changes.

The biggest news is the increase in 401(k) deferrals, up to $18,000 from $17,500 in 2014.

2014 Limit 2015 Limit
Social Security Wage Base $117,000 $118,500
Social Security Cost of Living Adjustment 1.50% 1.70%
401(k) Plan Employee Contributions $17,500 $18,000
401(k) Plan Catch-Up Contribution $5,500 $6,000
SIMPLE-IRA/SIMPLE 401(k) $12,000 $12,500
SIMPLE Plan Catch-up Contribution $2,500 $3,000
DC Plan Wage Base $260,000 $265,000
DC Plan Maximum Total Contribution $52,000 $53,000
Traditional/Roth IRA Contribution $5,500 $5,500
Traditional/Roth IRA Catch-Up $1,000 $1,000
Roth IRA Phaseout Threshold $181,000 $183,000
Saver’s Credit Threshold (Married/Jointly) $60,000 $61,000
This entry was posted in retirement, taxes. Bookmark the permalink. Post a comment or leave a trackback: Trackback URL.

Post a Comment

Your email is never published nor shared. Required fields are marked *

You may use these HTML tags and attributes <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>