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2014 Retirement Savings Plan Contribution Limits

The information below summarizes the retirement plan contribution limits for 2014.

PlanNormal Limit"Age 50" Catch-up Limit"Pre-Retirement" Catch-up Limit
457 $17,500 $5,500 $17,500
401(a) $52,000 N/A N/A
401(k) $17,500 $5,500 N/A
IRA $5,500 $1,000 N/A

N/A = Not applicable

View 2013 contribution limits.

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

457 Plans

The contribution limits for 457 plans are unchanged in 2014. The normal limit for elective deferrals is $17,500, and employees age 50 or older may contribute up to an additional $5,500, for a total of $23,000. Employees taking advantage of the special pre-retirement catch-up may be eligible to contribute up to double the normal limit, for a total of $35,000.

401(a) Plans

The total contribution limit for 401(a) defined contribution plans under section 415(c)(1)(A) increases to $52,000 in 2014. This includes both employer and employee contributions.

401(k) Plans

The annual elective deferral limit for 401(k) plan employee contributions remains $17,500 in 2014. Employees age 50 or older are eligible to contribute up to an additional $5,500, for a total of $23,000.

The total contribution limit for both employee and employer contributions to 401(k) defined contribution plans under section 415(c)(1)(A) increases to $52,000 ($57,500 if age 50 or older).

IRAs

The contribution limit for Traditional and Roth IRAs remains $5,500 in 2014. Employees age 50 or older are eligible to contribute an additional $1,000, for a total of $6,500.

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