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The I.R.S. has announced the 2014 Maximum Annual Contribution Limits for 457(b) Plans. The 2014 limits will be set at $17,500, or $23,000 for those who have reached age 50 as of December 31, 2014. The Standard Catch-Up contribution limit will be $17,500 for 2014, which allows for a total contribution of up to $35,000.