Annual Plan Limits
|
|
|
Compensation |
$230,000 |
$225,000 |
$220,000 |
$210,000 |
| Limits on benefits and
contributions: |
| |
Defined contribution plans |
$46,000 |
$45,000 |
$44,000 |
$42,000 |
| |
Defined
benefit plans |
$185,000 |
$180,000 |
$175,000 |
$170,000 |
| |
401(k),
403(b) and 457 plan elective deferrals |
$15,500 |
$15,500 |
$15,000 |
$14,000 |
| |
SIMPLE plan
elective deferrals |
$10,500 |
$10,500 |
$10,000 |
$10,000 |
| |
IRA |
$5,000 |
$4,000 |
$4,000 |
$4,000 |
| Catch-up contributions: |
| |
401(k),
403(b) and 457 plans |
$5,000 |
$5,000 |
$5,000 |
$4,000 |
| |
SIMPLE
plans |
$2,500 |
$2,500 |
$2,500 |
$2,000 |
| |
IRA |
$1,000 |
$1,000 |
$1,000 |
$500 |
|
"Highly Compensated" definition |
$105,000 |
$100,000 |
$100,000 |
$95,000 |
| "Key Employee" definition: |
| |
Officer |
$150,000 |
$145,000 |
$140,000 |
$135,000 |
| |
1% owner |
$150,000 |
$150,000 |
$150,000 |
$150,000 |
| Social Security: |
| |
Taxable
wage base |
$102,000 |
$97,500 |
$94,200 |
$90,000 |
| |
Social
Security tax rate |
6.20% |
6.20% |
6.20% |
6.20% |
|
Medicare
tax rate |
1.45% |
1.45% |
1.45% |
1.45% |
| |
Combined
tax rate |
7.65% |
7.65% |
7.65% |
7.65% |
|
|
