Highly Compensated Employee Sec. 414(q)(1)(B). Highly compensated employee $115,000 is one who, during the prior year, was either (a) a (Indexed in 5% owner; or (b) had compensation above the $115,000 $115,000 $5,000 The dollar limitation under Sec. listed figure. increments) 416(i)(1)(A)(i) concerning definition of Key Employee in top-heavy plan for 2014 is $170,000. Exclusion for Elective Deferrals for a 401(k), $17,500 (Indexed in 403(b), SARSEP or Thrift Savings Plan $17,000 $17,500 Sec. 402(g). The indicated figure is the maximum $500 salary reduction a participant can make. increments) IMPORTANT COLAs and SCHEDULED INCREASES 2012 2013 2014 Maximum Elective Deferrals for a SIMPLE $12,000 Plan (Indexed in Sec. 408(p)(2)(E). This is the maximum salary $11,500 $12,000 $500 reduction a participant can take under a SIMPLE increments) IRA or SIMPLE 401(k). Maximum 457 Salary Reduction $17,500 Sec. 457(e)(15). Maximum deferral to nonqualified (Indexed in plans of state and local government and tax exempt $17,000 $17,500 $500 orgs. The limit is twice the otherwise applicable increments) dollar limit in the three years before retirement. Part-time Employee Floor for a SEP $550 Sec. 408(k)(2)(C).Employees who earn over the (Indexed in $550 $550 indicated limits must be included in a SEP if they $50 are otherwise eligible. increments) $210,000/ ESOP Maximum Amount $1,050,000 $200,000/ $205,000/ Sec. 409(o)(1)(C)(ii). Determining Lengthening of (Indexed for $1,015,000 $1,035,000 5-Year Distribution Period. $5,000 increments)
Highly Compensated Employee Sec. 414(q)(1)(B). Highly compensated employee is one who, during the prior year, was either (a) a 5% owner; or (b) had compensation above the listed figure. The dollar limitation under Sec. 416(i)(1)(A)(i) concerning definition of Key Employee in top-heavy plan for 2014 is $170,000. $115,000 $115,000 $115,000 (Indexed in $5,000 increments) Exclusion for Elective Deferrals for a 401(k), 403(b), SARSEP or Thrift Savings Plan Sec. 402(g). The indicated figure is the maximum salary reduction a participant can make. $17,000 $17,500 $17,500 (Indexed in $500 increments) IMPORTANT COLAs and SCHEDULED INCREASES 2012 2013 2014 Maximum Elective Deferrals for a SIMPLE Plan Sec. 408(p)(2)(E). This is the maximum salary reduction a participant can take under a SIMPLE IRA or SIMPLE 401(k). $11,500 $12,000 $12,000 (Indexed in $500 increments) Maximum 457 Salary Reduction Sec. 457(e)(15). Maximum deferral to nonqualified plans of state and local government and tax exempt orgs. The limit is twice the otherwise applicable dollar limit in the three years before retirement. $17,000 $17,500 $17,500 (Indexed in $500 increments) Part-time Employee Floor for a SEP Sec. 408(k)(2)(C).Employees who earn over the indicated limits must be included in a SEP if they are otherwise eligible. $550 $550 $550 (Indexed in $50 increments) ESOP Maximum Amount Sec. 409(o)(1)(C)(ii). Determining Lengthening of 5-Year Distribution Period. $200,000/ $1,015,000 $205,000/ $1,035,000 $210,000/ $1,050,000 (Indexed for $5,000 increments)