1. Kathi Welch 



    From: Kathi Welch

    Sent: Thu Oct 23 15:26:58 2014

    Cc: Jayson Davidson

    Subject: IRS Notice Regarding Contribution Limit Increases for 2015

    Importance: Normal

     
     
    Good afternoon –
      
    The IRS has issued the following notice that the elective deferral and catch-up contribution limits will be increasing for 2015.   Jayson Davidson will be discussing this further during the next meeting; however, please let us know if you have any questions in the meantime. 
      
    IRS Information Release 2014-99: 2015 Pension Plan Limitations (PDF)    
    "The elective deferral (contribution) limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government's Thrift Savings Plan is increased from $17,500 to $18,000. The catch-up contribution limit for employees aged 50 and over ... is increased from $5,500 to $6,000. The limit on annual contributions to an [IRA] remains unchanged at $5,500.... [T]he limitation on the annual benefit under a defined benefit plan under Section  415(b)(1)(A)  remains unchanged at $ 210,000.... The limitation for defined contribution plans under Section  415(c)(1)(A)  is increased in 2015 from $52,000 to $53,000. "   (Internal Revenue Service [IRS])     
     
    Thank you!
      





    Kathi Welch 

    Operations Manager 

    Hyas Group, LLC 

    108 NW 9th Avenue, Suite 203 

    Portland, OR 97209 

    971.634.1509 

    kwelch@hyasgroup.com 

      

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