Though the New Year is just around the corner, there is still plenty of time to make contributions to your retirement plan. Here are the applicable limits for 2014:

2014 401(k) Limits  
401(k) elective deferrals $17,500
Annual defined contribution limit $52,000
Annual compensation limit $260,000
Catch-up contribution limit $5,500
Highly compensated employees $115,000

 

 2014 Non-401(k) Limits
403(b)/457 elective deferrals $17,500
SIMPLE employee deferrals $12,000
SIMPLE catch-up deferrals $2,500
SEP minimum compensation $550
SEP annual compensation limit $260,000
Social security wage base $117,000

Have a question about your 2014 retirement plan contributions or limits? Need help setting up a plan before year end? Synergetic Finance can help. Contact us today to set up a complimentary consultation.