News Articles
  • Decrease font size
  • Reset font size
  • Increase font size
  • Print this page

IRS Announces 2014 Retirement Plan Contribution Limits

November 1, 2013

On October 31, 2013, the IRS announced the various adjustments applicable to retirement plan contribution limits for 2014. Some limitations such as those governing 457 plans and IRAs will remain unchanged because the increase in the Consumer Price Index did not meet the statutory thresholds for their adjustment. However, other pension plan limitations, including those for 401(a) plans will increase for 2014.

The tables below show the 2013 and 2014 contribution limitations for 457 plans, 401 plans, and IRAs.

More details on the retirement plan limits are available from the IRS.

457 Plan Limits

Limitation20142013
Annual Deferral Limit for 457 Plans $17,500 $17,500
“Pre-Retirement” Catch-Up Limit $17,500 ($35,000 total) $17,500 ($35,000 total)
“Age 50” Catch-Up Limit $5,500 ($23,000 total) $5,500 ($23,000 total)

401 Plan Limits

Limitation20142013
401 Defined Contribution Plans - Annual Additions (§415(c)(1)(A)) $52,000 $51,000
401 Defined Benefit Plans - Maximum Annual Benefit* (§415(b)(1)(A)) $210,000 $205,000
401 Annual Compensation Limit** (non-grandfather/grandfather) (§401(a)(17))) $260,000/ $385,000 $255,000/ $380,000
Annual Deferral Limit for (§401(k) Plans (§402(g)) $17,500 $17,500
401(k) "Age 50" Catch-Up (§414(v)) $5,500 ($23,000 total) $5,500 ($23,000 total)

Traditional IRA & Roth IRA Contribution Limits

Limitation20142013
Annual Contribution Limit $5,500 $5,500
"Age 50" Catch-Up Limit $1,000 $1,000

*Special limitations apply to defined benefit plans. Please contact your defined benefit plan administrator for additional information.

**OBRA 1993 provided a governmental exception for the maximum compensation limit that grandfathers certain employees under the 1993 compensation limit of $235,840. Employees eligible to participate in a governmental plan, utilizing the ICMA-RC plan document, prior to January 1, 1994, are subject to the maximum compensation limit of $235,840 as indexed and shown above as the "grandfather" limit. Employees eligible to participate in a governmental plan, utilizing the ICMA-RC plan document, after January 1, 1994, are subject to the maximum compensation limit of $150,000 as indexed and shown above as the "non-grandfather" limit.

    Return to top