Offices |
Media Office
Elko & Associates Ltd
Flagship Corporate Center
2 West Baltimore Ave., Suite 210
Media, PA 19063
Phone: 610-565-3930
Fax: 610-566-1040
Plymouth Meeting Office
Elko & Associates Ltd
Plymouth Woods Office Center
521 Plymouth Rd., Suite 120
Plymouth Meeting, PA 19462
Phone: 610-279-9100
Fax: 610-279-7100
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The Internal Revenue Service just released the cost-of-living adjustments for various retirement plan limitations that will take effect on January 1, 2012. For the first time in three years, there are increases in some of the various limits.
Contact Veronica Plousis with any questions or to learn how this effects you.
| Maximum Defined Benefit Plan Benefit (IRC §415(b)) (applies to limitation years ending in indicated year) |
$195,000 |
$200,000 |
| Maximum Defined Contribution Annual Addition (IRC §415(c)) (applies to limitation years ending in indicated year) |
$49,000 |
$50,000 |
| Social Security Taxable Wage Base |
$106,800 |
$110,100 |
| Salary Deferral Limit (IRC §402(g)) |
$16,500 |
$17,000 |
| Catch-up Limit for 401(k), 403(b), 457 plans(applies to calendar year) |
$5,500 |
$550 (NC) |
| HCE Compensation(applies to lookback years in indicated year) |
$110,000 |
$115,000 |
| Maximum Compensation for Retirement Plan Purposes (IRC §401(a)(17)) (applies to plan years beginning in indicated year) |
$245,000 |
$250,000 |
| Key Employee: Officer |
$160,000 |
$165,00 |
| Key Employee: 1% Owner |
$150,000 |
$150,000 |
| 457(b) Contribution Limit |
$16,500 |
$17,000 |
| SIMPLE Salary Deferral Limit |
$11,500 |
$11,500(NC) |
| SIMPLE Catch-up Limit |
$2,500 |
$2,500 (NC) |
| IRA Contribution Limit |
$5,000 |
$5,000 (NC) |
| IRA Catch-up Limit |
$1,000 |
$1,000 (NC) |
| SEP Threshold |
$550 |
$550 (NC) |
| ESOP: 5-year Distribution Factor |
$195,000 |
$200,000 |
| ESOP: Account Balance |
$985,000 |
$1,015,000 |
(NC) = No Change from 2011 |
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