The various retirement plan limits have been announced for 2012. Here is a brief recap:
Salary Deferral Limit for 401(k) and 403(b) Plans is $17,000 (up from $16,500). Additional Salary Deferral for someone Age 50 by 12/31/2012 is $5,500 (stayed the same). Therefore a 50 year old can defer up to $22,500 in 2012 (increased from $22,000). The maximum amount of compensation counted for plan purposes is $250,000 (previously $245,000). Maximum Annual Additions Limit from all contributions is $50,000 (increased from $49,000 and you can add $5,500 if age 50 or more if salary deferrals available). The maximum Defined Benefit Plan retirement amount is $200,000 per year ($190,000 a year previously). The amount of compensation in 2012 that would make someone an HCE in 2013 is $115,000 (up from $110,000 for 2009, 2010 and 2011). The new Social Security Taxable Wage Base is $110,100 (up from $106,800).
For a more complete chart go here: Retirement Plan Limitations Chart
Showing posts with label Limitations. Show all posts
Showing posts with label Limitations. Show all posts
Thursday, October 20, 2011
Tuesday, October 19, 2010
401(k) and Other Retirement Plan Limitations Stay Unchanged for 2011
The 401(k), 403(b) and other Retirement Plan limits will remain the same for 2011 as they have been for 2009 and 2010. There will be no cost of living adjustment for the second year in a row.
Salary Deferral Limit: $16,500
Over Age 50 Make-up contribution: $5,500
Therefore, total deferrals if over age 50 by 12/31/2011: $22,000
Definition of HCE - someone who made over $110,000 the prior year
Maximum Compensation Limit for Plan Purposes: $245,000
Social Security Wage Base: $106,800
To see a chart of more limits, click: www.401kacademy.com/401kpdf/limitationschart.pdf
Salary Deferral Limit: $16,500
Over Age 50 Make-up contribution: $5,500
Therefore, total deferrals if over age 50 by 12/31/2011: $22,000
Definition of HCE - someone who made over $110,000 the prior year
Maximum Compensation Limit for Plan Purposes: $245,000
Social Security Wage Base: $106,800
To see a chart of more limits, click: www.401kacademy.com/401kpdf/limitationschart.pdf
Friday, November 6, 2009
Retirement Plan Limits for 2010 same as for 2009
Limits for 2009 and 2010 are the same
Salary deferrals if under age 50: $16,500
Over age 50 (by last day of the Calendar Year) Make-up contribution: $5,500
So, salary deferral limit for someone age 50 or more: $22,000
Annual Additions Limit (from all sources): $49,000
If over age 50, maximum Annual Additions limit: $54,500 (assuming $5,500 in deferrals)
Compensation that can be counted for plan purposes: $245,000
For more limits, see http://www.401kacademy.com/401kpdf/limitationschart.pdf
Salary deferrals if under age 50: $16,500
Over age 50 (by last day of the Calendar Year) Make-up contribution: $5,500
So, salary deferral limit for someone age 50 or more: $22,000
Annual Additions Limit (from all sources): $49,000
If over age 50, maximum Annual Additions limit: $54,500 (assuming $5,500 in deferrals)
Compensation that can be counted for plan purposes: $245,000
For more limits, see http://www.401kacademy.com/401kpdf/limitationschart.pdf
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