IRS COLA
Adjustments to Retirement Plan Limitations
Maximum
Dollar Limits
|
Benefit Limit
|
2010 |
2009 |
2008 |
2007 |
2006 |
|
401(k) & 403(b) Elective Deferrals
|
$16,500 |
$16,500 |
$15,500 |
$15,500 |
$15,000 |
|
Catch-up Elective Deferrals
|
$5,500 |
$5,500 |
$5,000 |
$5,000 |
$5,000 |
|
Defined Benefit Plan Benefit
|
$195,000 |
$195,000 |
$185,000 |
$180,000 |
$175,000 |
|
Defined Contribution Plan Contribution
|
$49,000 |
$49,000 |
$46,000 |
$45,000 |
$44,000 |
|
Annual Compensation Limit
|
$245,000 |
$245,000 |
$230,000 |
$225,000 |
$220,000 |
|
Highly Compensated Employee
|
$110,000 |
$110,000 |
$105,000 |
$100,000 |
$100,000 |
|
SIMPLE Plan Deferral
|
$11,500 |
$11,500 |
$10,500 |
$10,500 |
$10,000 |
|
SIMPLE Plan Catch-up Elective Deferrals
|
$2,500 |
$2,500 |
$2,500 |
$2,500 |
$2,500 |
|
SEP Coverage
|
$550 |
$550 |
$500 |
$500 |
$450 |
|
SEP Compensation
|
$245,000 |
$245,000 |
$230,000 |
$225,000 |
$220,000 |
|
Tax Credit ESOP Maximum Balance
|
$985,000 |
$985,000 |
$935,000 |
$915,000 |
$885,000 |
|
Social Security Tax Wage Base
|
$106,800 |
$106,800 |
$102,000 |
$97,500 |
$94,200 |
As a reminder, elective deferral contributions and loan payments must be
segregated from corporate assets as soon as administratively possible and no
longer than 7 business days. If you are not sending in contributions on a per
payroll basis, please contact Alliance Benefit Group to make arrangements to do
so to avoid any potential penalties.
If you have any questions, please call your Account Manager at
1-800-898-9344.