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401(k) Deferral Limits for 2014

401(k) Deferral Limits for 2014. The IRS maximum amount you may defer into your plan in 2014 is $17,500 As in the past, employees 50 yrs of age or older in 2014 may defer an additional $5,500 in “catch-up” contributions (over-and-above the normal deferral limit)

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401(k) Deferral Limits for 2014

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  1. 401(k) Deferral Limits for 2014 • The IRS maximum amount you may defer into your plan in 2014 is $17,500 • As in the past, employees 50 yrs of age or older in 2014 may defer an additional $5,500 in “catch-up” contributions (over-and-above the normal deferral limit) • The IRS has increased the compensation limit for 2014 to $260,000 (incr. from $255,000 for 2013) All 401(k) plan changes must be made directly into Milliman’s system at www.millimanbenefits.com no later than 2:59 PM CDT on 12/27/2013 in order to be effective during the first quarter of 2014. Your catch-up contribution election will automatically roll-over for plan year 2014, unless you go out to the Milliman web site and dis-enroll yourself.

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