Retirement and Health Plan Limits for 2014

December 20, 2013

The IRS has released the cost-of-living adjustments affecting dollar limitations for defined contribution and defined benefit retirement plans. The table below compares both the retirement plan and health insurance plan limits for 2012 through 2014. Further guidance can be found on the IRS website.

Retirement Plans2012 Limit2013 Limit2014 Limit

401(k), 403(b), 457(b)(2) elective deferrals

$17,000

$17,500

$17,500

401(k), 403(b) "catch up" contributions for ages 50+

$5,500

$5,500

$5,500

SIMPLE plan elective deferral

$11,500

$12,000

$12,000

SIMPLE "catch up" contributions for ages 50+

$2,500

$2,500

$2,500

Defined contribution plan maximum

$50,000

$51,000

$52,000

Defined benefit plan maximum

$200,000

$205,000

$210,000

Maximum includible compensation

$250,000

$255,000

$260,000

Highly compensated employee

$115,000

$115,000

$115,000

FICA taxable wage base

$110,100

$113,700

$117,000

Health Insurance Plans2012 Limit2013 Limit2014 Limit

Health Savings Account (HSA) contribution limit -- individual

$3,100

$3,250

$3,300

HSA contribution limit -- family

$6,250

$6,450

$6,550

HSA "catch up" contributions for ages 55+

$1,000

$1,000

$1,000

Minimum deductible for high-deductible health plan (HDHP) -- individual

$1,200

$1,250

$1,250

Minimum deductible for HDHP -- family

$2,400

$2,500

$2,500

Maximum out-of-pocket for HDHP -- individual

$6,050

$6,250

$6,350

Maximum out-of-pocket for HDHP -- family

$12,100

$12,500

$12,700

Flexible Spending Account (FSA) contribution limit

No limit*

$2,500

$2,500

 *While there was no limit for contributions, most plans capped them at $5,000 or less.

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