Tax Advisor - Retirement Plan Limitations for 2011
| Code Section | 2011 | 2010 | 2009 |
IRAs | |||
| IRA Contribution Limit -219(b)(5)(A) | 5,000 | 5,000 | 5,000 |
| IRA Catch-Up Contributions - 219(b)(5)(B) | 1,000 | 1,000 | 1,000 |
| IRA AGI Deduction Phase-out Starting at | |||
| Joint Return | 90,000 | 89,000 | 89,000 |
| Single or Head of Household | 56,000 | 56,000 | 55,000 |
| |||
| SEP Minimum Compensation - 408(k)(2)(C) | 550 | 550 | 550 |
| SEP Maximum Compensation - 408(k)(3)(C) | 245,000 | 245,000 | 245,000 |
| |||
| SIMPLE Minimum Compensation - 408(p)(2)(E) | 11,500 | 11,500 | 11,500 |
| Catch-up Contributions - 414(v)(2)(B)(ii) | 2,500 | 2,500 | 2,500 |
| |||
| Annual Compensation - 401(a)(17)/404(1) | 245,000 | 245,000 | 245,000 |
| Elective Deferrals - 402(g)(1) | 16,500 | 16,500 | 16,500 |
| Catch-up Contributions - 414(v)(2)(B)(i) | 5,500 | 5,500 | 5,500 |
| Defined Contribution Limits - 415(c)(1)(A) | 49,000 | 49,000 | 49,000 |
| ESOP Limit - 409(o)(1)(C) - Account Balance | 985,000 | 985,000 | 985,000 |
ESOP Limit - 409(o)(1)(C) - Lengthening 5-yr Period | 195,000 | 195,000 | 195,000 |
Other | |||
| HCE Threshold - 414(q)(1)(B) | 110,000 | 110,000 | 110,000 |
| Defined Benefit Annual Limit - 415(b)(1)(A) | 195,000 | 195,000 | 195,000 |
| Key Employee - 416(i)(1)(A)(i) | 160,000 | 160,000 | 160,000 |
| 457 Elective Deferrals - 457(e)(15) | 16,500 | 16,500 | 16,500 |
| Control Employee - 1.61-21 (f)(5)(i) | 95,000 | 95,000 | 95,000 |
| Control Employee - 1.61-21 (f)(5)(iii) | 195,000 | 195,000 | 195,000 |
| Social Security Taxable Wage Base | 106,800 | 106,800 | 106,800 |
Questions? For assistance or additional information, please contact:
Cindy Mitchell, CPA
330.255.2454
Email
Michael Hydell, CPA
330.255.2456
Email
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