NEW COST OF LIVING ADJUSTMENTS FOR 2015

If you haven’t already heard, here is a handy PDF from the IRS website regarding COLA Increases for Dollar Limitations on Benefits and Contributions. According to the IRS, “The tax law places limits on the dollar amount of contributions to retirement plans and IRAs and the amount of benefits under a pension plan. IRC Section 415 requires the limits to be adjusted annually for cost-of-living increases.”