RETIREMENT PLAN LIMITS
|
2013
|
||
|
Defined Contribution (IRC §415(c))
|
$51,000
|
|
|
Defined Benefit (IRC §415(b))
|
$205,000
|
|
|
Plan Compensation (IRC §401(a)(17))
|
$255,000
|
|
|
Salary Deferral (401(k), SARSEP, 403(b), 457) $16,500
|
$17,500
|
|
|
Catch-Up - age 50+ (401(k), SARSEP, 403(b), 457))
|
$5,500
|
|
|
Salary Deferral (SIMPLE)
|
$12,000
|
|
|
Catch-Up - age 50+ (SIMPLE)
|
$2,500
|
|
|
Highly Compensated Employee
|
$115,000
|
|
|
Key Employee (officer)
|
$165,000
|
|
|
Social Security Taxable Wage Base
|
$113,700
|
|
|
IRA
|
$5,500
|
|
|
Catch-Up - age 50+ (IRA)
|
$1,000
|
|
|
Income Limit Phaseout for Deductible IRA
|
$95,000
|
(married - filing jointly - phaseout begins)
|
|
$59,000
|
(single - phaseout begins)
|
|
|
Income Limit Phaseout for Roth IRA
|
$178,000
|
(married - filing jointly - phaseout begins)
|
|
$112,000
|
(single - phaseout begins)
|
|
2012
|
||
|
Defined Contribution (IRC §415(c))
|
$50,000
|
|
|
Defined Benefit (IRC §415(b))
|
$200,000
|
|
|
Plan Compensation (IRC §401(a)(17))
|
$250,000
|
|
|
Salary Deferral (401(k), SARSEP, 403(b), 457) $16,500
|
$17,000
|
|
|
Catch-Up - age 50+ (401(k), SARSEP, 403(b), 457))
|
$5,500
|
|
|
Salary Deferral (SIMPLE)
|
$11,500
|
|
|
Catch-Up - age 50+ (SIMPLE)
|
$2,500
|
|
|
Highly Compensated Employee
|
$115,000
|
|
|
Key Employee (officer)
|
$165,000
|
|
|
Social Security Taxable Wage Base
|
$110,100
|
|
|
IRA
|
$5,000
|
|
|
Catch-Up - age 50+ (IRA)
|
$1,000
|
|
|
Income Limit Phaseout for Deductible IRA
|
$92,000
|
(married - filing jointly - phaseout begins)
|
|
$58,000
|
(single - phaseout begins)
|
|
|
Income Limit Phaseout for Roth IRA
|
$173,000
|
(married - filing jointly - phaseout begins)
|
|
$110,000
|
(single - phaseout begins)
|
|
|
Note: For fiscal year retirement plans, the limits in effect at the
beginning of the plan year will generally apply.
|
||
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IRS Circular 230 Notice: Advice rendered in this communication, including attachments, on U.S. tax issues (i) is not intended or written to be used, and it cannot be used, for the purpose of avoiding penalties that may be imposed by the IRS on taxpayers, and (ii) may not be used or referred to in promoting, marketing or recommending a partnership or other entity, investment plan or arrangement. This notice is intended to comply with Section 10.35 of IRS Circular 230.