10.21.2009
|
Updates
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10.21.2009
|
Updates
The IRS announced the Year 2010 cost-of-living adjustments for various provisions affecting employee benefit plans. The following table shows certain Year 2010 limits plus those from prior years. The IRS publication with a complete list of 2010 limits can be found at http://www.irs.gov
Plan Limits | 2010 | 2009 | 2008 | 2007 | 2006 |
§ 401(k) Plan and 403(b) Plan | 16,500 | 16,500 | 15,500 | 15,500 | 15,000 |
401(k), 403(b) and 457 Catch-Up Contributions | 5,500 | 5,500 | 5,000 | 5,000 | 5,000 |
SIMPLE Plan | 11,500 | 11,500 | 10,500 | 10,500 | 10,000 |
SIMPLE 401(k) and IRA Catch-Up Contributions | 2,500 | 2,500 | 2,500 | 2,500 | 2,500 |
§ 415 Limit for
|
49,000 |
49,000 |
46,000 |
45,000 |
44,000 |
Highly Compensated Employees (§ 414(q)) | 110,000 | 110,000 | 105,000 | 100,000 | 100,000 |
Includible Compensation (§ 401(a)(17)) | 245,000 | 245,000 | 230,000 | 225,000 | 220,000 |
Key Employees (§ 416)
|
160,000 |
160,000 |
150,000 |
145,000 |
140,000 |
Compensation Threshold for SEP Eligibility (§ 408(k)(2)(C)) |
550 |
550 |
500 |
500 |
450 |
FICA Taxable Wage Base | |||||
Social Security (Tax Rate 6.20%) | 106,800 | 106,800 | 102,000 | 97,500 | 94,200 |
Medicare (Tax Rate 1.45%) | No Limit | No Limit | No Limit | No Limit | No Limit |
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