As I predicted back in August of this year, 2015 contribution limits have been raised for 401k plans ($18,000 vs. $17,500). For a breakdown of all the 2015 IRS cost of living adjustments (COLA) to IRA, SEP, SIMPLE, 401k and 403b plans (and their comparison to 2014 and 2013), I’ve created the following infographic based on the IRS’s official press release:
Remember to take these cost of living adjustments into account when you adjust your 401k contribution amounts during your company’s upcoming open enrollment period.
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