2008
to 1998: Retirement Plan and Related Limits
| |
2008 |
2007 |
2006 |
2005 |
2004 |
2003 |
2002 |
2001 |
2000 |
1999 |
1998 |
| Qualified
Plan Limits |
|
| 401(k),
403(b) and SARSEP maximum deferral [402(g)] |
$15,500 |
$15,500 |
$15,000 |
$14,000 |
$13,000 |
$12,000 |
$11,000 |
$10,500 |
$10,500 |
$10,000 |
$10,000 |
| 457
maximum deferral |
15,500 |
15,500 |
15,000 |
14,000 |
13,000 |
12,000 |
11,000 |
8,500 |
8,000 |
8,000 |
8,000 |
| Catch-Up
for 401(k), 403(b), SARSEP, and 457 |
5,000 |
5,000 |
5,000 |
4,000 |
3,000 |
2,000 |
1,000 |
- |
- |
- |
- |
| SIMPLE
election maxiumum deferral |
10,500 |
10,500 |
10,000 |
10,000 |
9,000 |
8,000 |
7,000 |
6,500 |
6,000 |
6,000 |
6,000 |
| Catch-Up
for SIMPLE |
2,500 |
2,500 |
2,500 |
2,000 |
1,500 |
1,000 |
500 |
- |
- |
- |
- |
| DB
- annual benefit |
185,000 |
180,000 |
175,000 |
170,000 |
165,000 |
160,000 |
160,000 |
140,000 |
135,000 |
130,000 |
130,000 |
| DC
- annual contributions |
46,000 |
45,000 |
44,000 |
42,000 |
41,000 |
40,000 |
40,000 |
35,000 |
30,000 |
30,000 |
30,000 |
| |
| Compensation
Limits |
|
| Maximum
compensation |
230,000 |
225,000 |
220,000 |
210,000 |
205,000 |
200,000 |
200,000 |
170,000 |
170,000 |
160,000 |
160,000 |
| SEP
annual compensation floor |
500 |
450 |
450 |
450 |
450 |
450 |
450 |
450 |
450 |
400 |
400 |
| |
| Highly
Compensated Employees |
|
| Any
employee compensation |
105,000 |
100,000 |
100,000 |
95,000 |
90,000 |
90,000 |
90,000 |
85,000 |
85,000 |
80,000 |
80,000 |
| |
| Key
Employees |
|
| Officer
compensation |
150,000 |
145,000 |
140,000 |
135,000 |
130,000 |
130,000 |
130,000 |
70,000 |
67,500 |
65,000 |
65,000 |
| 10
largest owners |
- |
- |
- |
- |
- |
- |
- |
35,000 |
30,000 |
30,000 |
30,000 |
| 1%
owner |
150,000 |
150,000 |
150,000 |
150,000 |
150,000 |
150,000 |
150,000 |
150,000 |
150,000 |
150,000 |
150,000 |
| |
| Covered
Compensation Limits |
|
| Social
Security |
102,000 |
97,500 |
94,200 |
90,000 |
87,900 |
87,000 |
84,900 |
80,400 |
76,200 |
72,600 |
68,400 |
| Medicare |
no
limit |
no
limit |
no
limit |
no
limit |
no
limit |
no
limit |
no
limit |
no
limit |
no
limit |
no
limit |
no
limit |
| |
| Self-Employment
Tax |
|
| Self-employment
rate |
|
12.40% |
12.40% |
12.40% |
12.40% |
12.40% |
12.40% |
12.40% |
12.40% |
12.40% |
12.40% |
| Medicare
rate |
|
2.90% |
2.90% |
2.90% |
2.90% |
2.90% |
2.90% |
2.90% |
2.90% |
2.90% |
2.90% |
| Combined
rate |
|
15.30% |
15.30% |
15.30% |
15.30% |
15.30% |
15.30% |
15.30% |
15.30% |
15.30% |
15.30% |
| |
| Social
Security Tax |
|
| Social
Security rate |
|
6.20% |
6.20% |
6.20% |
6.20% |
6.20% |
6.20% |
6.20% |
6.20% |
6.20% |
6.20% |
| Medicare
rate |
|
1.45% |
1.45% |
1.45% |
1.45% |
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% |
7.65% |
7.65% |
7.65% |
7.65% |
| |
| ESOP
Distribution |
|
| Normal
dist. period (years) |
5 |
5 |
5 |
5 |
5 |
5 |
5 |
5 |
5 |
5 |
5 |
| Threshold
account balance IRC 409(o)(1)(C) |
935,000 |
915,000 |
885,000 |
850,000 |
830,000 |
N/A |
810,000 |
800,000 |
780,000 |
755,000 |
735,000 |
| One
year extension threshold IRC 409(o)(1)(C)(ii) |
185,000 |
180,000 |
175,000 |
170,000 |
165,000 |
N/A |
160,000 |
155,000 |
150,000 |
145,000 |
145,000 |
| Max.
additional distribution periods allowable (years) |
5 |
5 |
5 |
5 |
5 |
5 |
5 |
5 |
5 |
5 |
5 |
| |
| Maximum
PBGC-Insured Annuity
ERISA Reg. 4022.23(c) |
|
| Age
65 / 100% Paid |
|
4,312.50 |
4,125.00 |
3,971.59 |
3,801.14 |
3,698.86 |
3,664.77 |
3,579.55 |
3,392.05 |
3,221.59 |
3,051.14 |
| Age
64 / 93% |
|
4,010.63 |
3,836.25 |
3,639.58 |
3,535.06 |
3,439.94 |
- |
- |
- |
- |
- |
| Age
63 / 86% |
|
3,708.75 |
3,547.50 |
3,415.57 |
3,268.98 |
3,181.02 |
- |
- |
- |
- |
- |
|
|
| Age
62 / 79% |
|
3,406.88 |
3,258.75 |
3,137.56 |
3,002.90 |
2,922.10 |
2,895.17 |
2,827.85 |
2,679.72 |
2,545.06 |
2,410.40 |
| Age
61 / 72% |
|
3,105.00 |
2,970.00 |
2,859.54 |
2,736.82 |
2,663.18 |
- |
- |
- |
- |
- |
| Age
60 / 65% |
|
2,803.13 |
2,681.25 |
2,581.53 |
2,470.74 |
2,404.26 |
2,382.10 |
2,326.71 |
2,204.83 |
2,094.03 |
1,983.24 |
|
|
| Age
59 / 61% |
|
2,630.63 |
2,516.25 |
2,422.67 |
2,318.70 |
2,256.30 |
- |
- |
- |
- |
- |
| Age
58 / 57% |
|
2,458.13 |
2,351.25 |
2,263.81 |
2,166.65 |
2,108.35 |
- |
- |
- |
- |
- |
| Age
57 / 53% |
|
2,285.63 |
2,186.25 |
2,104.94 |
2,014.60 |
1,960.40 |
- |
- |
- |
- |
- |
|
|
| Age
56 / 49% |
|
2,113.13 |
2,021.25 |
1,946.08 |
1,862.56 |
1,812.44 |
- |
- |
- |
- |
- |
| Age
55 / 45% |
|
1,940.63 |
1,856.25 |
1,787.22 |
1,710.51 |
1,664.49 |
1,649.15 |
1,610.80 |
1,526.42 |
1,449.72 |
1,373.01 |
Insurance
products and programs offered through HA&W Risk Management,
LLC. Securities offered through Securities America, Inc. Member
NASD/SIPC. Shane Austin, Nick Bhandari, Lisa Schiffer, Chris Wynne,
Registered Representatives. Advisory services offered through HA&W
Wealth Management, LLC. HA&W Wealth Management LLC and TEGRA
Financial Partners are not affiliated with Securities America, Inc.
|
