The Employee Annual Compensation Contribution calculation limit and the Top-Heavy Key Employee Compensation Contribution calculation limit increased by $5,000 from the 2013 plan year.

Note that the Maximum Employee Elective Deferral, the Catch-Up Contribution (for those 50 and older) and the Top Heavy Highly Compensated Contribution calculation limit remains the same as it was for the 2013 plan year.  However, the Maximum Deferral for both employer and employee combined contribution increased by $1,000.  This means that the Plan Sponsor may choose to increase their contributions for the 2014 plan year.

2014

Maximum Employee Elective Deferral

$17,500

Catch Up Contribution (50 and older)

$5,500

Maximum Deferral (employer & employee combined)

$52,000

Annual Compensation Contribution Calculation limit

$260,000

Top Heavy Key Employee Compensation Contribution Calculation limit

$170,000

Top Heavy Highly Compensated Contribution Calculation limit

$115,000