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2012 Quick Reference
401(k) Limit: $17,000, with the additional $5,500 Catch-Up (if Age 50 or above), MAXIMUM 401(k) Limit: $22,500
Total Limit: $50,000, with the $5,500 Catch-Up Contribution the MAXIMUM is $55,500
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Annual Plan Limits
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2012
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2011
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2010
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2009
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Compensation
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$250,000
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$245,000 |
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$245,000 |
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$245,000 |
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Limits on benefits and contributions
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Defined contribution plans
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$50,000
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$49,000 |
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$49,000 |
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$49,000 |
Defined benefit plans
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$200,000
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$195,000
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$195,000
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$195,000
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401(k), 403(b) and 457 plan elective deferrals
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$17,000
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$16,500
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$16,500
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$16,500
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SIMPLE plan elective deferrals
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$11,500
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$11,500
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$11,500
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$11,500
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IRA
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$5,000
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$5,000
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$5,000
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$5,000
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Catch-up contributions
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401(k), 403(b) and 457 plans
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$5,500
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$5,500
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$5,500
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$5,500
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SIMPLE plans
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$2,500
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$2,500
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$2,500
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$2,500
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IRA
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$1,000
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$1,000
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$1,000
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$1,000
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"Highly Compensated" definition
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$115,000
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$110,000
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$110,000
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$110,000
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"Key Employee" definition
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Officer
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$165,000
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$160,000
|
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$160,000
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$160,000
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1% owner
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$150,000 |
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$150,000 |
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$150,000 |
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$150,000 |
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Social Security
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|
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Taxable wage base
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$110,100
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$106,800
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$106,800
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$106,800
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Social Security (employee tax rate)
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4.20%
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6.20%
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6.20%
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6.20%
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Social Security (employer tax rate)
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6.20%
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6.20%
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6.20%
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6.20%
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Medicare (employee and employer tax rate)
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1.45%
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1.45%
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1.45%
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1.45%
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