The IRS on Nov. 24 issued Notice 2014-70 to announce inflation-adjusted and statutory dollar amounts that apply for 2015 to various aspects of employee benefit plans. The 2015 dollar amounts include the following:

  • Maximum annual elective deferral contribution in 401(k), 403(b) and 457(b) plans: $18,000
  • Maximum annual total contributions to a defined contribution plan: $53,000
  • Maximum annual benefit in a defined benefit plan: $210,000
  • Maximum annual compensation that may be taken into account under a qualified retirement plan: $265,000
  • Compensation threshold for determining highly compensated employee status: $120,000

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