| |
2012 |
2011 |
2010 |
2009 |
2008 |
| Compensation |
$250,000 |
$245,000 |
$245,000 |
$245,000 |
$230,000 |
| Limits on benefits and contributions: |
| Defined contribution plans |
$ 50,000 |
$ 49,000 |
$ 49,000 |
$ 49,000 |
$ 46,000 |
| Defined benefit plans |
$200,000 |
$195,000 |
$195,000 |
$195,000 |
$185,000 |
| 401(k), 403(b) and 457 plan Elective deferrals |
$ 17,000 |
$ 16,500 |
$ 16,500 |
$ 16,500 |
$ 15,500 |
| SIMPLE plan elective deferrals |
$ 11,500 |
$ 11,500 |
$ 11,500 |
$ 11,500 |
$ 10,500 |
| IRA Contribution Limits |
$ 5,000 |
$ 5,000 |
$ 5,000 |
$ 5,000 |
$ 5,000 |
| Catch-up contribution limits |
| 401(k), 403(b) and 457 plans |
$ 5,500 |
$ 5,500 |
$ 5,500 |
$ 5,500 |
$ 5,000 |
| SIMPLE plans |
$ 2,500 |
$ 2,500 |
$ 2,500 |
$ 2,500 |
$ 2,500 |
| IRA |
$ 1,000 |
$ 1,000 |
$ 1,000 |
$ 1,000 |
$ 1,000 |
| “Highly Compensated” definition |
| |
$115,000 |
$110,000 |
$110,000 |
$110,000 |
$105,000 |
| “Key Employee” definition: |
| Officer |
$165,000 |
$160,000 |
$160,000 |
$160,000 |
$150,000 |
| 1% owner |
$150,000 |
$150,000 |
$150,000 |
$150,000 |
$150,000 |
| Social Security: |
| Taxable wage base |
$110,100 |
$106,800 |
$106,800 |
$106,800 |
$ 102,000 |
| Social Security tax rate |
6.20% |
6.20% |
6.20% |
6.20% |
6.20% |
| Medicare tax rate |
1.45% |
1.45% |
1.45% |
1.45% |
1.45% |
| Combined tax rate |
7.65% |
7.65% |
7.65% |
7.65% |
7.65% |
