IRS Cost of Living Limitations for 2015

IRS Cost of Living 2015

IRS Cost-of-Living Limitations

2014

2015

Deferral Limit for 401(k), 403(b), Salary Reduction SEPs

$17,500.00

$18,000.00

SIMPLE Plan Deferral Limit

$12,000.00

$12,500.00

Catch-up Limit 401(k), 403(b) (Ages 50+)

$5,500.00

$6,000.00

Catch-up Limit SIMPLE Plan (Ages 50+)

$2,500.00

$3,000.00

415 Dollar Limit for Defined Contribution Plans

$52,000.00

$53,000.00

415 Dollar Limit for Defined Benefit Plans

$210,000.00

$210,000.00

Compensation Cap for Plan Purposes

$260,000.00

$265,000.00

Compensation for Highly Compensated Employees (HCE

$115,000.00

$120,000.00

Officer Compensation for Key Employee Definition

$170,000.00

$170,000.00

Minimum Earnings for SEP Participation

$550.00

$600.00

Social Security Taxable Wage Base

$117,000.00

$118,500.00

 

mm About Leonard L. Shober

Leonard L. Shober has focused a quarter century on representing clients in their estates and tax matters. He began his legal career in an estate planning practice. However, his interest in taxes and estate planning led him to pursue a Master of Laws (LLM) from Temple which he completed in 1994. Len continued his estate and tax practice which ultimately led to a focus on the needs of the elderly and disabled. At Shober & Rock, Len focuses on elder law, tax and estate planning and estate and trust administration.

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