No Increase For 401(k) and IRA Contributions In 2014
The maximum 401(k) contribution for 2014 remains unchaged at $17,500. IRA contribution limits are also unchanged at $5,500. Additional catch-up contributions are unchanged as well at $5,500 and $1,000 for 401(k)’s and IRA’s, respectively. SIMPLE maximum deferral remains at $12,000 as well.
Income limitations on IRA and Roth IRA contributions are increased by inflation adjustments for 2014, details can be found in IR-2013-86.
