|
Limitation |
2007 |
2008 |
2009 |
2010 |
|
401(k) and 403(b) Deferrals |
$15,500 |
$15,500 |
$16,500 |
$16,500 |
|
457 Deferrals |
$15,500 |
$15,500 |
$16,500 |
$16,500 |
|
Catch-Up Contributions |
$5,000 |
$5,000 |
$5,500 |
$5,500* |
| 415 Limits |
|
Defined Benefit Plans
|
|
Defined Contribution Plans
|
|
|
|
|
|
|
Highly Compensated Employee (HCE) |
$100,000 |
$105,000 |
$110,000 |
$110,000*** |
|
Compensation Limit – 401(a)(17) |
$225,000 |
$230,000 |
$245,000 |
$245,000 |
| Social Security Limits |
| OASDI tax rate |
| OASDI taxable wage base |
| Hospital insurance tax rate |
| Hospital insurance taxable wage base |
|
| |
| 6.20% |
| $97,500 |
| 1.45% |
| No Limit |
|
| |
| 6.20% |
| $102,000 |
| 1.45% |
| No Limit |
|
| |
| 6.20% |
| $106,800 |
| 1.45% |
| No Limit |
|
| |
| 6.20% |
| $106,800 |
| 1.45% |
| No Limit |
|
| ESOP Limits |
| Maximum Balance Subject to the 5-year Distribution Period |
| Amount for Lengthening of 5-year Distribution Period |
|
|
|
|
|
*$5,500 additional catch-up for participants over age 50 by 12/31/2010 if plan allows
**Reduced for retirement prior to age 62
***The $110,000 compensation limit will be used to determine HCE's for plan years beginning in 2011
NOTE: In 2010, a Highly Compensated Employee will be any employee who earned over $105,000 in 2009 or who was a 5% owner in either 2009 or 2010, unless a special election was made to only include the top 20% of employees as Highly Compensated Employees.
|
