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Useful Information | Pension Plan Limits
 

 

2008

2009

2010

2011

2012

2013

401(a)(17) Compensation Limit

230,000

245,000

245,000

245,000

250,000

(Note A)

414(q) Highly Compensated Employee

105,000

110,000

110,000

110,000

115,000

(Note A)

Elective Deferrals Annual Limits

 

 

 

 

 

 

401(k), 403(b), SEPs and 457 Plans

15,500

16,500

16,500

16,500

17,000

(Note B)

SIMPLE IRAs and SIMPLE 401(k)s

10,500

11,500

11,500

11,500

11,500

(Note B)

"Catch-Up" Contribution Limits (Note C)

 

 

 

 

 

 

401(k), 403(b), SEPs and 457 Plans

5,000

5,500

5,500

5,500

5,500

(Note D)

SIMPLE IRAs and SIMPLE 401(k)s

2,500

2,500

2,500

2,500

2,500

(Note D)

IRA Contribution Limits

 

 

 

 

 

 

Annual Contributions

5,000

5,000

5,000

5,000

5,000

(Note B)

"Catch-Up" Contributions

1,000

1,000

1,000

1,000

1,000

(Note E)

415 Annual Addition Limits

 

 

 

 

 

 

Defined Benefit Plan Dollar Limit

185,000

195,000

195,000

195,000

200,000

(Note F)

Defined Contribution Plan Dollar Limit

46,000

49,000

49,000

49,000

50,000

(Note G)

Taxable Wage Base & Rates

 

 

 

 

 

 

Social Security Wage Base

102,000

106,800

106,800

106,800

110,100

(Note H)

Social Security Tax Rate

6.20%

6.20%

6.20%

6.20%

6.20%

6.20%

Medicare Wage Base

NO LIMIT

NO LIMIT

NO LIMIT

NO LIMIT

NO LIMIT

NO LIMIT

Medicare Tax Rate

1.45%

1.45%

1.45%

1.45%

1.45%

1.45%

Key Employee (Top Heavy Plans)

 

 

 

 

 

 

Officer

150,000

160,000

160,000

160,000

165,000

(Note A)

1% Owners

150,000

150,000

150,000

150,000

150,000

150,000

Notes:

(A)            Indexed for inflation in $5,000 increments.

(B)            Indexed for inflation in $500 increments.

(C)            Catch-up contributions generally excluded from plan limits (e.g.: IRC §§ 415, 457(b), 408(p), 401(k)(11), 402(h) and 404) and testing (e.g.: ADP/ACP testing, IRC § 410(b) coverage and IRC § 401(a)(4) nondiscrimination). Catch-up contributions must be available on a nondiscriminatory basis to eligible employees age 50 and older. Employers are not required to permit catch-up contributions.

(D)            Indexed for inflation in $500 increments. With respect to government 457 plans, participants may make catch-up contributions under special rules to IRC § 457 during the three years prior to retirement which may result in greater catch-up limits than general "catch-up contributions" under IRC § 414(v).

(E)            The IRA deductibility rules have not changed. The IRA catch-up contributions apply to individuals age 50 and older.

(F)             Indexed for inflation in $5,000 increments. Annual benefit limitations are actuarially reduced for benefit commencement before age 62 and actuarially increased for benefit commencement after age 65.

(G)            Indexed for inflation in $1,000 increments. Effective for limitation years beginning after December 31, 2001, the 25% of compensation limitation under IRC § 415(c)(1)(B) is increased to 100% of compensation.

(H)            Indexed for inflation.

Copyright © 2011, Independent Pension Consultants, Ltd. All rights reserved.
The information herein was obtained from sources which IPC and its suppliers believe reliable, but they do not guarantee its accuracy.