Are you contributing as much as you can to your 401(k) plan? Why not consider increasing your contributions? Even a small increase could add up over time.

You can contribute up to $18,000 to your 401(k) in 20151

The IRS contribution limit for regular pre-tax contributions is $18,000 for 2015. Please keep this annual limit in mind when you elect your contribution rate. (Your contributions are also subject to your plans contribution limit.) As always, taxes are due upon withdrawal, and a 10% additional federal tax may apply to withdrawals taken before age 59.

Starting at age 50, you may be eligible to contribute an additional $6,000 in 20152

Catch-up contributions allow you to contribute more money as you get closer to retirement. The 2015 catch-up contribution limit is $6,000. You may qualify to make a catch-up contribution if you are age 50 or older anytime during the calendar year, and have met the lesser of:

The IRS annual pre-tax contribution limit, or

Your plans pre-tax contribution limit.

If you want to contribute more toward your retirement goal, catch-up contributions are a great way to do it.

Take full advantage of your 401(k) plan in 2015

The 2015 contribution limits allow you to contribute up to $18,000 if you are under age 50, and potentially up to $24,000 if you are age 50 or older (subject to your plans limits). Easy access to your retirement plan account is available on Benefits OnLine at www.benefits.ml.com, or by calling the Retirement & Benefits Contact Center.

1 If your plan offers Roth 401(k) contributions, this limit applies to the combined total of any traditional 401(k) contribution and Roth 401(k) contribution.2 If your plan offers Roth 401(k) contributions, catch-up contribution provisions apply to Roth 401(k) contributions also.

Merrill Lynch makes available products and services offered by Merrill Lynch, Pierce, Fenner & Smith Incorporated (MLPF&S) and other subsidiaries of Bank of America Corporation (BofA Corp.). MLPF&S is a registered broker-dealer, member SIPC and a wholly owned subsidiary of BofA Corp.

Investment products:

Are Not FDIC Insured Are Not Bank Guaranteed May Lose Value

Unless otherwise noted, all trademarks and registered trademarks are the property of Bank of America Corporation. 2014 Bank of America Corporation. All rights reserved. | ARWXX7GP | 20142748-1 | 10/2014 | ADA

2015 IRS limits for 401(k) contributions

Contribution limits for 2015