Tax Limits: 2015 Employer-Sponsored Retirement Plans

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2015 Employer-Sponsored
Retirement Plan Limits

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.

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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.

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