401k Contribution Limits for 2014

The IRS has released the new figures for 401k contribution limits in 2014 and they will remain the same as 2013: $17,500 for those under 50, and an additional $5,500 “catch-up” for those over 50. These limits apply to 403b, most 457, and government Thrift Savings Plans as well. This isn’t too surprising given the low inflation rate this year (as these amounts are inflation adjusted at $500 increments).

There were some small adjustments to income thresholds (which appear to be more applicable to IRA contribution eligibility). The IRS news release contains all the gory details.

401k Contribution Limits for 2014
Age (years) Maximum
0-49 $17,500
50+ $23,000

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