Government Tables

 Retirement Plan Limits

Limit 2011 2012
Compensation Limit $245,000 $250,00
Defined Contribution §415 Limit $49,000 $50,000
Defined Benefit §415 Limit $195,000 $200,00
Key Employee Officer $160,000 $165,000
Highly Compensated Employee $110,000 $115,000
Governmental Plan Compensation Limit $360,000 $375,000
ESOP §409(o) Limits

$985,000 $195,000

$1,015,000 $200,000
401(k), 403(b), 457(b) Deferral Limit $16,500 $17,000
401(k), 403(b), 457(b) Catch-up Limit $5,500 $5,500
Simple Plan Deferral Limit $11,500 $11,500
Simple Plan Deferral Limit $2,500 $2,500
Traditional IRA, Roth IRA** $5,000 $5,000
Traditional IRA, Roth IRA Catch-up Limit* $1,000 $1,000

** For 2012, the limit for contributions to traditional IRA or Roth IRA did not increase.

* Special limitations apply to defined benefit plans.  Please contact your defined benefit plan administrator for additional information.

Social Security Increases
 The Social Security Administration announced that the taxable wage base (TWB) will increase for 2012 to $110,100 from the 2011 amount of $106,800. Workers pay Social Security tax on wages up to the TWB. Also, some retirement plan formulas are integrated with Social Security. These plans often use the TWB when allocating contributions or calculating benefits.  

 

 

 Individual Income Tax Rates

 

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