On October 23, 2014, the IRS announced Cost of Living Adjustments (COLA) related to retirement plans effective January 1, 2015.
Highlights include:
| Qualified Plan Compensation Limit | $265,000.00 |
| Profit Sharing Plan Maximum Plan Contribution Limit | $53,000.00 |
| 401(k) Maximum Elective Deferral* | $18,000.00 |
| Catch-Up Contribution Limit 401(k)* | $6,000.00 |
| for participants 50 years old or older during 2014 | |
| Wage Base For Social Security | $118,500.00 |
For more information visit: https://www.irs.gov/Retirement-Plans/COLA-Increases-for-Dollar-Limitations-on-Benefits-and-Contributions
