Annual Limit on Contributions and Compensation
| Type of Limitation | 2009 $ | 2008 $ | 2007 $ | 2006 $ | 2005 $ |
| Annual Compensation Limit: | |||||
| Qualified Plans2 | 245,000 | 230,000 | 225,000 | 220,000 | 210,000 |
| SAR SEP | 245,000 | 230,000 | 225,000 | 220,000 | 210,000 |
| SEP Plans | 550 | 500 | 500 | 450 | 450 |
| Limits on benefits and contributions: | |||||
| Defined Contribution Plans 1 | 49,000 | 46,000 | 45,000 | 44,000 | 42,000 |
| Defined Benefit Plans 1 | 195,000 | 185,000 | 180,000 | 175,000 | 170,000 |
| 401(k), 403(b), 457(b)(2) and 457(c)(1) 2 | 16,500 | 15,500 | 15,500 | 15,000 | 14,000 |
| SIMPLE Plans | 11,500 | 10,500 | 10,500 | 10,000 | 10,000 |
| SAR SEP | 49,000 | 46,000 | 45,000 | 44,000 | 42,000 |
| IRA | 5,000 | 5,000 | 4,000 | 4,000 | 4,000 |
| Catch-up contributions: | |||||
| 401(k), 403(b), 457(b)(2) and 457(c)(1) 3 | 5,500 | 5,000 | 5,000 | 5,000 | 4,000 |
| SIMPLE Plans | 2,500 | 2,500 | 2,500 | 2,500 | 2,000 |
| SAR SEP | 5,000 | 5,000 | 5,000 | 5,000 | 4,000 |
| IRA | 1,000 | 1,000 | 1,000 | 1,000 | 500 |
| Highly Compensated Threshold | 110,000 | 105,000 | 100,000 | 100,000 | 95,000 |
| Key Employee Threshold: | |||||
| Officer | 160,000 | 150,000 | 145,000 | 140,000 | 135,000 |
| 1% Owner | 160,000 | 150,000 | 150,000 | 150,000 | 150,000 |
| Social Security: | |||||
| Income Subject to Social Security Tax | 106,800 | 102,000 | 97,500 | 94,200 | 90,000 |
| Tax Rate | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% |
| Medicare Tax Rate | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% |
| Combined Rate | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% |
| Other: | |||||
| Tax Credit ESOP Threshold Bal | 985,000 | 935,000 | 915,000 | 885,000 | 850,000 |
| Amount for Lengthening of 5 yr ESOP Period | 195,000 | 185,000 | 180,000 | 175,000 | 170,000 |
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 by your
plan document.
10/17/2008