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Maximum Benefits and Contributions Limits for 2007 - 2012 |
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Type of Limitation | | | | | | | Elective Deferrals (401(k) and 403(b); not including adjustments and catch-ups) | $17,000 | $16,500 | $16,500 | $16,500 | $15,500 | $15,500 | 457(b)(2) and 457(c)(1) Limits (not including catch-ups) | $17,000 | $16,500 | $16,500 | $16,500 | $15,500 | $15,500 | Section 414(v) Catch-Up Deferrals to 401(k), 403(b), 457(b), or SARSEP Plans 10/ | $5,500 | $5,500 | $5,500 | $5,500 | $5,000 | $5,000 | Defined Benefit Plans | $200,000 | $195,000 | $195,000 | $195,000 | $185,000 | $180,000 | Defined Contribution Plans | $50,000 | $49,000 | $49,000 | $49,000 | $46,000 | $45,000 | Annual Compensation Limit | $250,000 | $245,000 | $245,000 | $245,000 | $230,000 | $225,000 | Annual Compensation Limit for Grandfathered Participants in Governmental Plans Which Followed 401(a)(17) Limits (With Indexing) on July 1, 1993 | $375,000 | $360,000 | $360,000 | $360,000 | $345,000 | $335,000 | Highly Compensated Employee ("HCEs") | $115,000 | $110,000 | $110,000 | $110,000 | $105,000 | $100,000 | Individual Retirement Accounts ("IRAs"), for individuals 49 and below | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $4,000 | Individual Retirement Accounts ("IRAs"), for individuals 50 and above | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $5,000 | SIMPLE Retirement Accounts | $11,500 | $11,500 | $11,500 | $11,500 | $10,500 | $10,500 | SEP Coverage | $550 | $550 | $550 | $550 | $500 | $500 | SEP Compensation | $250,000 | $245,000 | $245,000 | $245,000 | $230,000 | $225,000 | Tax Credit ESOP Maximum Balance | $1015,000 | $985,000 | $985,000 | $985,000 | $935,000 | $915,000 | Amount for Lengthening of 5-Year ESOP Period | $200,000 | $195,000 | $195,000 | $195,000 | $185,000 | $180,000 | Excess Distribution Threshold | N/A | N/A | N/A | N/A | N/A | N/A | Qualified Police and Firefighters' DB Benefit Limit | N/A | N/A | N/A | N/A | N/A | N/A | Income Subject to Social Security Tax | $110,100 | $106,800 | $106,800 | $106,800 | $102,000 | $97,500 | FICA Tax for employers | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% | FICA Tax for employees | 7.65% | 5.65% | 7.65% | 7.65% | 7.65% | 7.65% | Social Security Tax for employers | 6.2% | 6.2% | 6.2% | 6.2% | 6.2% | 6.2% | Social Security Tax for employees | 6.2% | 4.2% | 6.2% | 6.2% | 6.2% | 6.2% | Medicare Tax for employees and employers | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% | FICA Tax for self-employed workers | 15.3% | 13.3% | 15.3% | 15.3% | 15.3% | 15.3% | Social Security Tax for self-employed workers | 12.4% | 10.4% | 12.4% | 12.4% | 12.4% | 12.4% | Medicare Tax for self-employed workers | 2.9% | 2.9% | 2.9% | 2.9% | 2.9% | 2.9% |
1/ 2012 limits reflect issuance of IRS Notice 2011-91, 2011-47 I.R.B. 792 (November 21, 2011) and the corresponding Social Security Administration News Release (October 20, 2011).
2/ 2011 limits reflect issuance of IRS Notice 2010-78, 2010-49 I.R.B. 808 (December 6, 2010) and the corresponding Social Security Administration News Release (October 15, 2010).
3/ 2010 limits reflect issuance of IRS Notice 2009-94, 2009-50 I.R.B. 848 (December 14, 2009) and the corresponding Social Security Administration News Release (October 15, 2009).
4/ 2009 limits reflect issuance of IRS Notice 2008-102, 2008-45 I.R.B. 1107 (November 10, 2008) and the corresponding Social Security Administration News Release (October 16, 2008).
5/ 2008 limits reflect issuance of IRS Notice 2007-87, 2007-45 I.R.B. 966 (November 5, 2007) and the corresponding Social Security Administration News Release (October 18, 2007).
6/ 2007 limits reflect issuance of IRS Notice 2006-98, 2006-46 I.R.B. 906 (November 13, 2006) and the corresponding Social Security Administration News Release (October 18, 2006).
7/ 2006 limits reflect issuance of IRS Notice 2005-75, 2005-45 I.R.B. 929 (November 7, 2005) and the corresponding Social Security Administration News Release (October 14, 2005).
8/ 2005 limits reflect issuance of IRS Notice 2004-72, 2004-46 I.R.B. 840 (November 15, 2004) and the corresponding Social Security Administration News Release (October 19, 2004).
9/ 2004 limits reflect issuance of IRS Notice 2003-73, 2003-45 I.R.B. 1017 (November 10, 2003) and the corresponding Social Security Administration News Release (October 16, 2003).
10/ This number is only the catch-up available under Code section 414(v). Code sections 457(b)(3) and 402(g) provide separate catch-up rules, which must also be considered in appropriate cases.
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