Although the Internal Revenue Code provides that dollar limitations on benefits and contributions will be annually adjusted for cost-of-living increases, the limits for 2011 remain the same as the limits for 2010. The Internal Revenue Service recently announced the 2011 cost-of-living adjustments applicable to the dollar limitations on contributions and benefits for retirement plans for the 2011 calendar year.
Below are the 2011 plan limitations:
|
401(k), 403(b) and 457(b) Deferral Limits |
$16,500 |
|
401(k) and 403(b) Catch-up Deferral Limits |
$5,500 |
|
Annual Limitation on Compensation |
$245,000 |
|
Defined Contribution Limitation |
$49,000 |
|
Defined Benefit Limitation |
$195,000 |
|
Highly Compensated Employee Compensation Threshold |
$110,000 |
|
Key Employee Compensation – Officer Threshold |
$160,000 |
|
SIMPLE Deduction |
$11,500 |
|
SIMPLE Catch-up Contribution |
$2,500 |
|
IRA Contribution Limit |
$5,000 |
|
IRA Catch-up Contribution Limit |
$1,000 |
|
Social Security Wage Base |
$106,800 |
