2015 Pension Contribution Limits

As the end of the year rolls around, if you have not already done so, now is the time to plan for contributions into your retirement accounts in 2015. While Traditional IRA and Roth IRA plan limits are unchanged versus 2014, please note the contribution increases in 401(k), 403(b), 457 and SIMPLE IRAs.

Retirement Program 2015 2014 Change Age 50 or over catch up
IRA: Traditional $5,500 $5,500 none add: $1,000
IRA: Roth $5,500 $5,500 none add: $1,000
IRA: SIMPLE $12,500 $12,000 +$500 add: $3,000 (up $500)
401(k), 403(b), 457 plans $18,000 $17,500 +$500 add: $6,000 (up $500)

Don't forget to take advantage of any matching programs offered by your employer as you review your various funding levels.

2014 Planning Note: Remember you have until April 15th, 2015 to make contributions to your Roth or Traditional IRA for the 2014 tax year.