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IRS Announces 2014 Retirement Plan Limitations



by Lori A. Basilico
Edwards Wildman Palmer LLP - Providence Office

November 5, 2013

Previously published on November 2013

The Internal Revenue Service announced the 2014 cost-of-living adjustments to the dollar limitations for qualified retirement plans and other benefits, and the Social Security Administration announced its own cost-of-living adjustments for 2014. The elective deferral contribution limit for 401(k), 403(b) and 457(b) plans, as well as the catch-up contribution limit, will remain unchanged. Other limits, such as the annual compensation limit under 401(a)(17) and maximum annual benefit/contribution limits under Code Section 415, will increase for 2014.


 

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