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ARTICLE · 29 OCTOBER 2014

IRS Releases 2015 Pension Plan Limits

The Internal Revenue Service recently released a detailed list of pension plan and other retirement-related contribution and compensation limitations for tax year 2015.

United StatesEmployment and HR

The Internal Revenue Service recently released a detailed list of pension plan and other retirement-related contribution and compensation limitations for tax year 2015 that were triggered by an increase in the cost-of-living index.  As stated in the release, "[m]any of the pension limitations will change because the increase in the cost-of-living index met the statutory thresholds that trigger their adjustment. However, other limitations will remain unchanged for 2015."

The following highlights a few key changes to the limits for retirement plans:

  • Elective deferral contribution limits for employees who participate in a 401(k), 403(b), most 457 plans, and the federal government's Thrift Savings Plan increased from $17,500 to $18,000.

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