401(k), 403(b), and 457(b) Plan Contribution Limits for 2014

by Michael on Nov 13, 2013 · 2 comments

Image of 401(k) Nest Egg

As we approach the end of the year, it’s time to start looking ahead. That means it’s time to revisit your retirement plan contributions.

According to the IRS, the 2014 contribution limits for 401(k), 403(b), and 457(b) plans will be unchanged in 2014.

That means that the stated limit will stay at $17,500/year. For participants who are at least 50 years old, the “catch-up” contribution limit will likewise remain unchanged at an additional $5,500/year.

So if you’ve already maxed out, there’s nothing more for you to do. But if you’re currently contributing less than the max, there’s still room for improvement.

As I’ve done for IRA contribution limits, I wanted to provide a bit of historical perspective, so… Here are the limits going back to 2005.

Year Limit Catch-up
2005 $14,000 $4,000
2006 $15,000 $5,000
2007 $15,500 $5,000
2008 $15,500 $5,000
2009 $16,500 $5,500
2010 $16,500 $5,500
2011 $16,500 $5,500
2012 $17,000 $5,500
2013 $17,500 $5,500
2014 $17,500 $5,500

Note that these limits also apply to the federal Thrift Savings Plan.

Also: It’s worth noting that the 415(c) limit, which specifies the maximum combined contribution (employer + employee) is increasing from $51k to $52k. This value is probably most relevant to high income, self-employed individuals.

1 krantcents November 13, 2013 at 7:29 pm

Thanks for the information although I wish it increased.

2 Michael November 14, 2013 at 8:26 am

Look at the bright side… Increases are tied to inflation, so if it increased that would mean inflation would have to have been higher than it was over the past year. 😉

Comments on this entry are closed.

Previous post:

Next post: