The elective deferral limit under Section 402(g)(1) of the Internal Revenue Code (IRC) for employees who participate in a 401(k), 403(b) and most 457 plans will be $18,000, which is an increase from the $17,500 limit for the 2014 and 2013 tax years.

The catch-up contribution limit for those age 50 and over under IRC Section 414(v)(2)(B)(i) will be $6,000, which is an increase from the $5,500 limit for the 2014 and 2013 tax years. The catch-up contribution limit for those age 50 and over under IRC Section 414(v)(2)(B)(ii) will be $3,000, an increase from 2014's $2,500 limit.

The limitation on the annual benefit for a defined benefit plan under IRC Section 415(b)(1)(A) will remain unchanged at $210,000.

The limitation on annual additions to a participant's defined contribution plan under IRC Section 415(c)(1)(A) will be $53,000, which is up from the $52,000 limitation in 2014.

The annual compensation limit under IRC Section 401(a)(17) will be $265,000, which is an increase from the $260,000 limit for 2014.

The limitation used in the definition of highly compensated employees under IRC Section 414(q)(1)(B) will be $120,000, which is an increase from the $115,000 limitation used in the 2014 and 2013 tax years.

The limitation used in the definition of a key employee in a top-heavy plan under IRC Section 416(i)(1)(A)(i) will remain unchanged at $170,000.

The dollar amount under IRC Section 409(o)(1)(C)(ii) for determining the maximum account balance in an employee stock ownership plan (ESOP) subject to a 5 year distribution period will be $1,070,000, an increase from $1,050,000 for the 2014 plan year. The dollar amount used to determine the lengthening of the 5 year distribution period remains unchanged from 2014 at $210,000.