Friday, December 25, 2015

COLA Increases - Dollar Limitations on Contributions & Benefits

If you're looking for the contribution limits be sure to check out the IRS web page here.

For your convince you can find information below. Be sure to check the provided resource to ensure that you are receiving the most updated information.

The below table was last updated on 21-Oct-2015

  2016 2015 2014


IRA Contribution Limit $5,500 $5,500 $5,500
IRA Catch-Up Contributions 1,000 1,000 1,000

IRA AGI Deduction Phase-out Starting at

Joint Return 98,000 98,000 96,000
Single or Head of Household 61,000 61,000 60,000


SEP Minimum Compensation 600 600 550
SEP Maximum Contribution 53,000 53,000 52,000
SEP Maximum Compensation 265,000 265,000 260,000


SIMPLE Maximum Contributions 12,500 12,500 12,000
Catch-up Contributions 3,000 3,000 2,500

401(k), 403(b), Profit-Sharing Plans, etc.

Annual Compensation 265,000 265,000 260,000
Elective Deferrals 18,000 18,000 17,500
Catch-up Contributions 6,000 6,000 5,500
Defined Contribution Limits 53,000 53,000 52,000
ESOP Limits








HCE Threshold 120,000 120,000 115,000
Defined Benefit Limits 210,000 210,000 210,000
Key Employee 170,000 170,000 170,000
457 Elective Deferrals 18,000 18,000 17,500
Control Employee (board member or officer) 105,000 105,000 105,000
Control Employee (compensation-based) 215,000 215,000 210,000
Taxable Wage Base 118,500 118,500 117,000

Thursday, December 24, 2015

Know Your IRA Contribution Limit

ira contribution limits If you are enrolled in an IRA retirement plan chances are you need to know what your contribution limit is. Depending on your situation you may need to make adjustments to your plan. Ed4Ed has created this informative info graphic to help answer all your questions about IRA pension options. Feel free to print or bookmark this page if you feel that you will need to refer to the information provided at a later time.

Sunday, December 13, 2015

401k vs. 403b

If you are a a government employee and getting ready to invest in a retirement plan there are a number of options that you might be considering.  Knowing which is best for you isn't always obvious.  After browsing through Ed4Ed you will notice a number of differences.  When considering a 401(k) and 403(b) plan here are some things to consider.

Both Plans

  • Offer tax-advantage options. 
  • Have the same contribution limits.
  • Offer Roth options.
  • Require participants be 59.5 to withdraw from plan.
  • Grow tax-deferred.


  • type of employer that is sponsoring the plan 
  •  A 401k is often administered by one company.  In a 403b the organization also has no ownership of the 403b plan.
  • 403b generally exempt from the Employee Retirement Income Security Act (ERISA).
    Additional Information here.

Picking a Plan

Regardless of what plan you decide to choose it is important to remember that having a retirement plan is an important step in safeguarding your future. Before you choose a plan know all of the ins and outs for each type of plan offered. Often times a financial planner can be consulted to help clarify which pension would work best to meet your needs.