New Pension Plan limits for the Tax Year 2012
New Pension Plan limits for the Tax Year 2012
Wed, 11/23/2011
Washington, D.C. : On October 20th , 2011 , the IRS announced the new Pension Plan limits for the Tax Year 2012.
| 401k Elective Deferrals increase to | $ 17,000 |
| Annual Catch-Up contribution | $ 5,500 |
| Defined Contribution Limit | $ 50,000 |
| Annual Compensation Limit | $ 250,000 |
| Highly Compensated Employee | $ 115,000 |
| Social Security Wage Base | $ 110,100 |
| SIMPLE IRA limits , unchanged | $ 11,500 |
| Catch-Up | $ 2,500 |
Please contact our office for any additional questions you may have.