IRS Announces 2014 Retirement Plan Limits

Maximum   Qualified Retirement Plan Dollar Limits

2013

2014

Limit on Section 401(k)   deferrals (Section 402(g))

$17,500

$17,500

Dollar limitation for catch-up   contributions (Section 414(v)(2)(B)(i))

$5,500

$5,500

Limit on deferrals for   government and tax-exempt organization deferred compensation plans (Section 457(e)(15))

$17,500

$17,500

Annual benefit limitation for   a defined benefit plan (Section 415(b)(1)(A))

$205,000

$210,000

Limitation on annual   contributions to a defined contribution plan (Section 415(c)(1)(A))

$51,000

$52,000

Limitation on compensation   that may be considered by qualified retirement plans (Section 401(a)(17))

$255,000

$260,000

Dollar amount for the   definition of highly compensated employee (Section 414(q)(1)(B))

$115,000

$115,000

Dollar amount for the   definition of key employee in a top-heavy plan (Section 416(i)(1)(A)(i))

$165,000

$170,000

Dollar amount for determining   the maximum account balance in an ESOP subject to a five-year distribution   period (Section 409(o)(1)(C)(ii))

$1,035,000

$1,050,000

SIMPLE retirement account limitation   (Section 408(p)(2)(E))

$12,000

$12,000

Social Security Taxable Wage   Base

$113,700

$117,000