Retirement Plan Benefits and Limits for 2014

Published on November 11, 2013.
Type          2014           2013
Traditional   and Roth IRA contribution $5,500 $5,500
Traditional   and Roth IRA catch-up contribution $1,000 $1,000
SIMPLE   IRA and SIMPLE 401(k) salary deferral $12,000 $12,000
SIMPLE   IRA and SIMPLE 401(k) catch-up contribution (50 years old & above) $2,500 $2,500
401(k),   403(b), 457(b), and SARSEP salary deferral contribution $17,500 $17,500
401(k),   403(b), 457(b), and SARSEP catch-up contribution (50 years old & above) $5,500 $5,500
SEP   minimum compensation $550 $550
SEP   maximum compensation $260,000 $255,000
Retirement   Savings Contribution Credit
                   Married filing jointly $60,000 $59,000
                   Married filing separately   and Single $30,000 $29,500
                   Head of Household $45,000 $44,250
Roth IRA eligibility compensation Married filing jointly 100% $181,000 or less $178,000 or less
Partial $181,000 – $191,000 $178,000 – $188,000
None $191,000 or more $188,000 or more
Married   filing Partial Less than $10,000 Less than $10,000
 separately None $10,000 or more $10,000 or more
100% $114,000 or less $112,000 or less
Single/Head   of Household Partial $114,000 – $129,000 $112,000 – $127,000
None $129,000 or more $127,000 or more
IRA deductibility compensation Married filing jointly 100% $96,000 or less $95,000 or less
Partial $96,000 – $116,000 $95,000 – $115,000
None $116,000 or more $115,000 or more
Married   filing Partial Less than $10,000 Less than $10,000
 separately None $10,000 or more $10,000 or more
100% $60,000 or less $59,000 or less
Single/Head   of Household Partial $60,000 – $70,000 $59,000 – $69,000
None $70,000 or more $69,000 or more
Annual   addition/contribution limit under a defined contribution plan or SEP IRA $52,000 $51,000
Annual benefit under   a defined benefit plan $210,000 $205,000
Compensation cap $260,000 $255,000
Key Employee   definition $170,000 $165,000
Highly compensated   employee definition $115,000 $115,000
Social Security   (FICA) wage base $117,000 $113,700

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