2014 Employer-Sponsored Retirement Plans

with No Comments

2014 Employer-Sponsored
Retirement Plans

2013 2014
Elective Deferrals 401(k),
403(b), 457, and SARSEPs
$17,500 $17,500
Catch-up contribution $5,500 $5,500
SEP IRA & 401(k) Employer Contribution Limit
Defined contribution (415(c)(1)(A)) $51,000 $52,000
Defined benefit (415(c)(1)(A)) $205,000 $210,000
SIMPLE plan $12,000 $12,000
SIMPLE catch-up contribution $2,500 $2,500
Maximum includible compensation $255,000 $260,000
Highly compensated employee
 Look back to 2012 $115,000
 Look back to 2013 $115,000
 Look to 2014 $115,000
Key employee (top-heavy plan)  >$165,000 >$170,000
SEP participation limit  $550  $550
Roth IRA Phaseouts
Single Married Filing Jointly
$114,000-$129,000 $181,000-$191,000

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.

Follow Austin Fey:

Wealth Manager

Austin Fey is a Wealth Manager at Marotta Wealth Management, specializing in charitable giving and asset allocations. She is a regular contributor to our Marotta On Money articles, often giving advice to those just getting started in finance.

Latest posts from