Limitations for Retirement Plans
| |
2003 |
2004 |
2005 |
| Defined Benefit Maximum Annual Benefit |
|
|
|
| Defined Benefit Maximum Annual Benefit |
$160,000 |
$165,000 |
$170,000 |
| |
|
|
|
| Defined Contribution Allocations |
|
|
|
| Defined Contribution Maximum Allocations |
$40,000 |
$41,000 |
$42,000 |
| |
|
|
|
| Deferrals |
|
|
|
| Maximum Deferrals for 401(k) or 403(b) |
$12,000 |
$13,000 |
$14,000 |
| Maximum Catch-up Contributions for 401(k) or 403(b) |
$2,000 |
$3,000 |
$4,000 |
| Maximum Deferrals for SIMPLE |
$8,000 |
$9,000 |
$10,000 |
| Maximum Catch-up Contributions for SIMPLE |
$1,000 |
$1,500 |
$2,000 |
| |
|
|
|
| IRA |
|
|
|
| Maximum IRA Contribution |
$3,000 |
$3,000 |
$4,000 |
| Maximum IRA Catch-up |
$500 |
$500 |
$500 |
| |
|
|
|
| Salaries |
|
|
|
| Maximum Annual Salary for Pension Plans |
$200,000 |
$205,000 |
$210,000 |
| Salary to Determine Highly Compensated Employee |
$90,000 |
$90,000 |
$94,000 |
| Salary to Determine Key Employee |
$130,000 |
$130,000 |
$130,000 |
| Salary for SEP Eligibility |
$450 |
$450 |
$450 |
| |
|
|
|
| Social Security Taxable Wage Base |
|
|
|
| Taxable Wage Base |
$87,000 |
$87,900 |
$90,000 |