2015 Employer-Sponsored
|
||||||
|---|---|---|---|---|---|---|
| 2014 | 2015 | |||||
| Elective Deferrals 401(k), 403(b), 457, and SARSEPs |
$17,500 | $18,000 | ||||
| Catch-up contribution | $5,500 | $6,000 | ||||
| SEP IRA & 401(k) Employer Contribution Limit: | ||||||
| Annual Defined Contribution Limit |
$52,000 | $53,000 | ||||
| Social Security Wage Base | $117,000 | $118,500 | ||||
| SIMPLE Plan Employee Deferrals |
$12,000 | $12,500 | ||||
| SIMPLE catch-up contribution | $2,500 | $3,000 | ||||
| Annual Compensation Limit |
$260,000 | $265,000 | ||||
| Highly compensated employees: | ||||||
| Look back to 2013 | $115,000 | |||||
| Look back to 2014 | $115,000 | |||||
| Look to 2015 | $120,000 | |||||
| SEP Minimum Compensation |
$550 | $600 | ||||
| SEP Annual Compensation Limit |
$260,000 | $265,000 | ||||
| Roth IRA Phaseouts | |
| Single | Married Filing Jointly |
| $116,000-$131,000 | $183,000-$193,000 |
It’s important to know the limits so you don’t over-contribute and incur tax penalties, but contribute just the right amount (based on your income) for your future standard of living.
Latest posts from Austin Fey
- #TBT How to Make a Financial Independence Bucket - July 4, 2024
- 2024 Tax Facts - November 13, 2023
- #TBT Harvest Major Capital Losses Whenever You Have Them - October 26, 2023