Annual Limit on Contributions and Compensation
|
Type of Limitation |
2012 $ |
2011 $ |
2010 $ |
2009 $ |
2008 $ |
2007 $ |
|
|
|
|
|
|
|
|
|
Annual Compensation Limit: |
|
|
|
|
|
|
|
Qualified Plans2 |
250,000 |
245,000 |
245,000 |
245,000 |
230,000 |
225,000 |
|
SAR SEP |
250,000 |
245,000 |
245,000 |
245,000 |
230,000 |
225,000 |
|
SEP Plans |
550 |
550 |
550 |
550 |
500 |
500 |
|
|
|
|
|
|
|
|
|
Limits on benefits and contributions: |
|
|
|
|
|
|
|
Defined Contribution Plans 1 |
50,000 |
49,000 |
49,000 |
49,000 |
46,000 |
45,000 |
|
Defined Benefit Plans 1 |
200,000 |
195,000 |
195,000 |
195,000 |
185,000 |
180,000 |
|
401(k), 403(b), 457(b)(2) and 457(c)(1) 2 |
17,000 |
16,500 |
16,500 |
16,500 |
15,500 |
15,500 |
|
SIMPLE Plans |
11,500 |
11,500 |
11,500 |
11,500 |
10,500 |
10,500 |
|
SAR SEP |
50,000 |
49,000 |
49,000 |
49,000 |
46,000 |
45,000 |
|
IRA |
5,000 |
5,000 |
5,000 |
5,000 |
5,000 |
4,000 |
|
|
|
|
|
|
|
|
|
Catch-up contributions: |
|
|
|
|
|
|
|
401(k), 403(b), 457(b)(2) and 457(c)(1)3 |
5,500 |
5,500 |
5,500 |
5,500 |
5,000 |
5,000 |
|
SIMPLE Plans |
2,500 |
2,500 |
2,500 |
2,500 |
2,500 |
2,500 |
|
SAR SEP |
5,000 |
5,000 |
5,000 |
5,000 |
5,000 |
5,000 |
|
IRA |
1,000 |
1,000 |
1,000 |
1,000 |
1,000 |
1,000 |
|
|
|
|
|
|
|
|
|
Highly Compensated Threshold |
115,000 |
110,000 |
110,000 |
110,000 |
105,000 |
100,000 |
|
|
|
|
|
|
|
|
|
Key Employee Threshold: |
|
|
|
|
|
|
|
Officer |
165,000 |
160,000 |
160,000 |
160,000 |
150,000 |
145,000 |
|
1% Owner |
165,000 |
160,000 |
160,000 |
160,000 |
150,000 |
150,000 |
|
|
|
|
|
|
|
|
|
Social Security: |
|
|
|
|
|
|
|
Income Subject to Social Security Tax |
110,100 |
106,800 |
106,800 |
106,800 |
102,000 |
97,500 |
|
Tax Rate |
6.20% |
6.20% |
6.20% |
6.20% |
6.20% |
6.20% |
|
Medicare Tax Rate |
1.45% |
1.45% |
1.45% |
1.45% |
1.45% |
1.45% |
|
Combined Rate |
7.65% |
7.65% |
7.65% |
7.65% |
7.65% |
7.65% |
|
|
|
|
|
|
|
|
|
Other: |
|
|
|
|
|
|
|
Tax Credit ESOP Threshold Bal |
1,015,000 |
985,000 |
985,000 |
985,000 |
935,000 |
915,000 |
|
Amount for Lengthening of 5 yr ESOP Period |
200,000 |
195,000 |
195,000 |
195,000 |
185,000 |
180,000 |
1 Effective for limitation years ending in calendar year
2 Effective for limitation years beginning in calendar year
3 Catch up contributions may only be made after the annual deferrals have been maximized either based on the annual limit, or a limitation imposed by your plan document.
10/20/2011