New 2015 Salary Limit

The Internal Revenue Service last month announced the maximum salary that can be used in determining benefits for a Retirement Security (RS) Plan participant in 2015. The maximum 2015 salary is $265,000, $5,000 greater than the 2014 maximum salary of $260,000.

The RS Plan benefit calculation system will be updated to reflect this new limit for 2015 pays. BAs who have run 2015 benefit projections for participants earning more than $260,000 can rerun those projections on or after November 7, 2014, to obtain a projection that reflects the new salary limit.