Publications
2014 Benefits Limitations
November 18, 2013
The IRS announced cost-of-living adjustments to various dollar limitations that will apply to benefit plans for 2014.
| 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | |
| 401(k)/403(b) plan maximum elective deferral | $17,500 | $17,500 | $17,000 | $16,500 | $16,500 | $16,500 |
| 457 deferral limit | $17,500 | $17,500 | $17,000 | $16,500 | $16,500 | $16,500 |
| 401(k)/403(b)/457 catch-up | $5,500 | $5,500 | $5,500 | $5,500 | $5,500 | $5,500 |
| Defined contribution maximum annual addition | $52,0001 | $51,0001 | $50,0001 | $49,0001 | $49,0001 | $49,0001 |
| Defined benefit maximum annual pension | $210,0001 | $205,0001 | $200,0001 | $195,0001 | $195,0001 | $195,0001 |
| Qualified plans maximum compensation limit | $260,000 | $255,000 | $250,000 | $245,000 | $245,000 | $245,000 |
| Highly compensated | $115,000 | $115,000 | $115,000 | $110,000 | $110,000 | $110,000 |
| Transit pass limit | $130 | $245 | $240 | $230 | $230 | $230 |
| Parking benefit limit | $250 | $245 | $240 | $230 | $230 | $230 |
| IRA limit | $5,500 | $5,500 | $5,500 | $5,500 | $5,500 | $5,500 |
| IRA catch-up | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| SIMPLE limit | $12,000 | $12,000 | $11,500 | $11,500 | $11,500 | $11,500 |
| SIMPLE catch-up | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 |
Taxable Wage Base
| 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | |
| Social Security | $117,000 | $113,700 | $110,100 | $106,800 | $106,800 | $106,800 |
| Medicare | no limit | no limit | no limit | no limit | no limit | no limit |
Payroll Tax Rate
| 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | |
| Social Security - employee |
6.20%2 |
6.20%2 | 4.20% | 4.20% | 6.20% | 6.20% |
| Social Security - employer | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% |
| Medicare | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% |
1 Applies to limitation years ending within the calendar year.
2 Does not reflect additional 0.9% on amounts above $200,000 for individuals and $250,000 for married filing jointly.