The smart money is saying that IRS-imposed retirement plan benefit limits are set to increase in 2015.
At least that’s the speculation coming from the actuaries at Buck Consultants.
The IRS will release the official numbers on or about Oct. 22. But Marge Martin, a principal with the global benefits consultant, has come up with some of her own figures.
Martin noted in a recent blog post that the cost of living adjustments made to benefit limits are set based on the Consumer Price Index-Urban for three months — July, August and September. The Bureau of Labor Statistics has already released July and August’s CPI-U.
September’s rate of inflation is scheduled to be released on Oct. 22, at which time sponsors will know for certain whether 2015 will bring benefit increases.
But Martin thinks the outcome is all but certain. “With both the July and August rates in hand, there is little doubt that we will see increases in most of the benefit limits for 2015,” she wrote.