R E T I R E M E N T    P L A N    L I M I T S

 

2010

2009

 

 

 

Compensation

      $245,000
$245,000

 

 
 

Limits on benefits and contributions:

 

 

 

 

 

Defined contribution plans
$49,000
$49,000

 
 
 

Defined benefit plans
$195,000
$195,000
 
 
 

401(k), 403(b) and 457 plan elective deferrals
$16,500
$16,500
 
 
 

SIMPLE plan elective deferrals
$11,500
$11,500
 
 
 

IRA

$5,000
$5,000
 
 
 

Catch-up Contributions

 

 

 

 

 

401(k), 403(b) and 457 plans
$5,500
$5,500
 
 
 

SIMPLE plans
$2,500
$2,500
 
 
 

IRA
$1,000
$1,000

 
 
 

"Highly Compensated" definition
$110,000
$110,000

 
 
 

"Key Employee" definition:

 

 

 

 

 

Officer
$160,000
$160,000
 
 
 

1% owner
$150,000
$160,000
 
 
 

Social Security:

 

 

 

 

 

Taxable wage base
$106,800
$106,800
 

 
 

Social Security tax rate

    6.20%
6.20%

 
 
 

Medicare tax rate
    1.45%
1.45%

 
 
 

Combined tax rate

    7.65%
7.65%
 
 
 

Information from irs.gov

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SECURITIES OFFERED THROUGH LPL FINANCIAL  MEMBER FINRA/SIPC