Employer News | January 2015

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January 2015 | VOLUME 113

2014 PERS and TRS CAFRs Now Available

2014 CAFR covers

The 2014 Comprehensive Annual Financial Reports (CAFR) for the PERS and TRS are now available online. To request hard copies, please call (907) 465-5711. The financial statements are also available.

PERS Publications

TRS Publications

Social Security Wage Base Increase for 2015

Senior couple w/ computer

Social Security's Old-Age, Survivors, and Disability Insurance (OASDI) program limits the amount of earnings subject to taxation for a given year. This limit changes each year with changes in the national average wage index. The Social Security wage base limit has increased from $117,000 to $118,500 for calendar year 2015. Read more...

IRS Announces 2015 Pension Plan Limitations


Taxpayers may contribute up to $18,000 to their 401(k) plans in 2015

The Internal Revenue Service recently announced cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2015. Read more...

New Edition of the Federal-State Reference Guide (Publication 963) Now Available

Publication 963

A new revision of IRS Publication 963, the Federal-State Reference Guide, is now available on the IRS Web site. This updates the revision that was released in November 2013.

Publication 963 is a joint effort of the IRS with the Social Security Administration (SSA) and the National Conference of State Social Security Administrators (NCSSSA). Its intended focus is Federal tax issues facing governmental entities, especially Social Security coverage and voluntary Section 218 agreements. It also addresses employment taxes, information returns, fringe benefits, retirement systems, the legal status of government entities, and other issues, as well as contact information for the IRS, SSA, and state governments.

Download or view Publication 963 from the “Forms & Pubs” page at the IRS Web site.