IRS Annual Contribution Limits

Every Year, The IRS sets limits on the maximum amount you can contribute to your 401(k) and other retirement savings account. The limitations are changed based on the increase in the cost of living index. It’s good news for those who contribute to retirement savings plans. The following table illustrates various limits for 401(k) contributions for the last 3 years.

Type of Limitation

2015

2014

2013

Elective Deferrals (401(k) and 403(b); not including adjustments and catch-ups)

$18,000

$17,500

$17,500

457(b)(2) and 457(c)(1) Limits (not including catch-ups)

$18,000

$17,500

$17,500

Section 414(v) Catch-Up Deferrals to 401(k), 403(b), 457(b), or SARSEP Plans

$6,000

$5,500

$5,500

Defined Benefit Plans

$210,000

$210,000

$205,000

Defined Contribution Plans (annual additions limit)

$53,000

$52,000

$51,000

Annual Compensation Limit

$265,000

$260,000

$255,000

Highly Compensated Employee (“HCEs”)

$120,000

$115,000

$115,000