The 401(k), 403(b) and other Retirement Plan limits will remain the same for 2011 as they have been for 2009 and 2010. There will be no cost of living adjustment for the second year in a row.
Salary Deferral Limit: $16,500
Over Age 50 Make-up contribution: $5,500
Therefore, total deferrals if over age 50 by 12/31/2011: $22,000
Definition of HCE - someone who made over $110,000 the prior year
Maximum Compensation Limit for Plan Purposes: $245,000
Social Security Wage Base: $106,800
To see a chart of more limits, click: www.401kacademy.com/401kpdf/limitationschart.pdf
Tuesday, October 19, 2010
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