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2015 Limits Released

November 25, 2014

•Social Security Wage Base increases to $118,500 from $117,000 in 2014 •The Social Security Rate remains at 6.2%, as well the Medicare Rate remains at 1.45% •The annual contribution limit to an IRA remains unchanged at $5,500, and the catch-up limit remains unchanged at $1,000 •The annual compensation limit for retirement plans is increased to $265,000 from $260,000 in 2014 •Elective Deferral Limits in 401(k), 403(b) and 457 Plans is increased to $18,000 from $17,500 in 2014, the catch-up limit is increased to $6,000 from $5,500 in 2014

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