IRS announces 2015 pension plan limitations.

• Position: IRS news

The IRS announced cost-of-living adjustments affecting dollar limitations for pension plans and other retirement related items for tax year 2015. Many of the pension plan limitations will change for 2015 because the increase in the cost of living index met the statutory thresholds that trigger their adjustment. However, other limitations will remain unchanged because the increase in the index did not meet the statutory thresholds that trigger their adjustment. Some highlights include the following:

* The elective deferral (contribution) limit for employees who participate in 401(k), 403(b), 457 plans and the federal government's thrift savings plan increased from

$17,500 to $18,000.

*'The catch-up contribution limit for...