2014 retirement-plan contribution limits are set by IRS

The Internal Revenue Service says the upper limit on contributions a worker can make to a 401(k) plan through salary reduction in 2014 will be the same as this year's limit, $17,500. The maximum annual benefit that can be paid by a defined-benefit plan will increase from this year's $205,000 to $210,000 next year, the agency said.

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