What are the IRS retirement plan limitations?
|
2007 |
2008 |
2009 |
|
| 401(k), 403(b) and 457 plan elective deferal limit |
$15,500 |
$15,500 |
$16,500 |
| 401(k), 403(b) and 457 plan age 50+ catch-up contribution limit |
$5,000 |
$5,000 |
$5,500 |
| SIMPLE IRA elective deferral limit |
$10,500 |
$10,500 |
$11,500 |
| SIMPLE IRA age 50+ catch-up contribution limit |
$2,500 |
$2,500 |
$2,500 |
| Maximum annual contribution of defined contribution plans |
$45,000 |
$46,000 |
$49,000 |
| Annual compensation limit |
$225,000 |
$230,000 |
$245,000 |
| Definition of highly compensated employee |
$100,000 |
$105,000 |
$110,000 |
|
Definition of key employee in top-heavy plan |
$145,000 |
$150,000 |
$160,000 |
| SEP minimum compensation |
$500 |
$500 |
$550 |
| Social Security taxable wage base |
$97,500 |
$102,000 |
$106,800 |
| Maximum annual benefit for defined benefit plans |
$180,000 |
$185,000 |
$195,000 |
| Traditional and Roth IRA contribution limit |
$4,000 |
$5,000 |
$5,000 |
| Traditional and Roth IRA age 50+ catch-up contribution limit |
$1,000 |
$1,000 |
$1,000 |
| Social Security tax rate (self-employed) |
15.30% |
15.30% |
15.30% |
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Copyright © 2010 Mason + Rich PA