The Maximum Employee Elective Deferral and Catch-Up Contributions limit (for those participants 50 and older) have each increased by $500 from the 2014 plan year. The Maximum Deferral for both employer and employee combined contribution increased by $1,000. This means that plan participants may choose to increase their contributions for the 2015 plan year while plan sponsor contribution limits will remain the same as the 2014 plan year.
The Employee Annual Compensation Contribution calculation and the Top-Heavy Highly Compensated Contribution calculation limit also increased for the 2015 plan year. Note that the Top Heavy Key Employee Compensation Contribution calculation limit remains the same as the 2014 plan year
|Maximum Employee Elective Deferral||$18,000|
|Catch Up Contribution (50 and older)||$6,000|
|Maximum Deferral (employer & employee combined)||$53,000|
|Annual Compensation Contribution Calculation limit||$265,000|
|Top Heavy Key Employee Compensation Contribution Calculation limit||$170,000|
|Top Heavy Highly Compensated Contribution Calculation limit||$120,000|