COLA - IRS Cost of Living Adjustments
| ANNUAL LIMITS |
2012 |
2011, 2010, 2009 |
Defined Benefit Plans |
$200,000 |
$195,000 |
| The maximum dollar limitation for annual benefits
under defined benefit plans under Internal Revenue
Code (IRC) Section 415(b)(1)(A). |
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| 401(k) Deferral Limit |
$17,000 |
$16,500 |
The limitation on cumulative elective deferrals
to a 401(k), as coordinated under IRC Section 403(b) &
457(b)(15). |
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| Age 50+ Catchup Limits |
$5,500 |
$5,500 |
The special catch-up available for individuals
at least 50 years old anytime during the year
and make eligible pre-tax contributions to 401(k),
403(b), and 457(e).
The
special catch-up to a SIMPLE plan remains at $2,500 under 414(v)(2)(B)(ii). |
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| Definition of Key Employee |
$165,000 |
$160,000 |
The compensation threshold used for determining
key employees under IRS Section 416(i)(1)(A)(i). |
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| Definition of Highly Compensation |
$115,000 |
$110,000 |
The compensation threshold used for determining
highly compensated employees under IRC Section
414(q)(1)(B). |
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| Compensation Limit |
$250,000 |
$245,000 |
The annual limit of compensation that may
be taken into account for contribution purposes
in accordance with IRC Section 401(a)(17), 404(I), 408(k)(3)(C), and 408(k)(6)(D)(ii). |
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| Taxable Wage Base |
$110,100 |
$106,800 |
Maximum amount of earnings subject to payroll
tax. |
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This material was created to
provide accurate and reliable information on the
subjects covered. It
is not intended to provide specific legal, tax or
other professional advice. The services of an appropriate
professional should be sought regarding your individual
situation.
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