IRS Announces 2014 Plan Limitations

The Internal Revenue Code provides for dollar limitations on benefits and contributions under qualified retirement plans. IRC Section 415 requires the limits to be adjusted annually for cost-of-living increases. The IRS announced on October 31, 2013, the cost-of-living adjustments applicable to dollar limitations for pension plans and other items for tax year 2014. Click on this link to view the 2014 limits.