Announcements are rolling out for cost-of-living adjustments to retirement plan limits, Social Security benefits and other tax calculations, as below. The official adjustment for Social Security benefits is 1.7%, up slightly from 1.5% in 2014. Inflation remains subdued and some categories saw little or no changes.
The biggest news is the increase in 401(k) deferrals, up to $18,000 from $17,500 in 2014.
| 2014 Limit | 2015 Limit | |
| Social Security Wage Base | $117,000 | $118,500 |
| Social Security Cost of Living Adjustment | 1.50% | 1.70% |
| 401(k) Plan Employee Contributions | $17,500 | $18,000 |
| 401(k) Plan Catch-Up Contribution | $5,500 | $6,000 |
| SIMPLE-IRA/SIMPLE 401(k) | $12,000 | $12,500 |
| SIMPLE Plan Catch-up Contribution | $2,500 | $3,000 |
| DC Plan Wage Base | $260,000 | $265,000 |
| DC Plan Maximum Total Contribution | $52,000 | $53,000 |
| Traditional/Roth IRA Contribution | $5,500 | $5,500 |
| Traditional/Roth IRA Catch-Up | $1,000 | $1,000 |
| Roth IRA Phaseout Threshold | $181,000 | $183,000 |
| Saver’s Credit Threshold (Married/Jointly) | $60,000 | $61,000 |
Bason Asset Management 