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The following table lists IRS defined limits in regards to the 401(k) plan for tax years 2004 thru 2010. You should be aware of these limits and how they may affect your 401(k) contributions.
| |
2004 |
2005 |
2006 |
2007 |
2008 |
2009 |
2010 |
| Maximum annual benefit earned under a Defined Benefit Plan (IRC Sec. 415) |
$165,000 |
$170,000 |
$175,000 |
$180,000 |
$185,000 |
$195,000 |
$195,000 |
| Maximum contribution to participant's account in one or more Defined Contribution Plans (IRC Sec. 415) |
$41,000 |
$42,000 |
$44,000 |
$45,000 |
$46,000 |
$49,000 |
$49,000 |
Maximum salary deferral
-401(k)/403(b) Plans (IRC Sec. 402(g) limit)
-457 Plans |
$13,000 |
$14,000 |
$15,000 |
$15,500 |
$15,500 |
$16,500 |
$16,500 |
| Maximum salary deferral SIMPLE 401(k) Plans |
$9,000 |
$10,000 |
$10,000 |
$10,500 |
$10,500 |
$11,500 |
|
Minimum compensation amount
-SEPs |
$450 |
$450 |
$450 |
$500 |
$500 |
$550 |
|
Maximum compensation amount
-401(a) Plans
-SEPs |
$205,000 |
$210,000 |
$220,000 |
$225,000 |
$230,000 |
$245,000 |
$245,000 |
Catch-up contribution
-401(k) Plans
-403(b) Plans
-457(b) Governmental
|
$3,000 |
$4,000 |
$5,000 |
$5,000 |
$5,000 |
$5,500 |
$5,500 |
Catch-up contribution
-SIMPLE 401(k) Plans |
$1,500 |
$2,000 |
$2,500 |
$2,500 |
$2,500 |
$2,500 |
|
| Highly compensated employee salary definition |
$90,000 |
$95,000 |
$100,000 |
$100,000 |
$105,000 |
$110,000 |
$110,000 |
| Key employee in top-heavy plan salary definition |
$130,000 |
$135,000 |
$140,000 |
$145,000 |
$150,000 |
$160,000 |
$160,000 |
| Social Security taxable wage base |
$87,900 |
$90,000 |
$94,200 |
$97,500 |
$102,000 |
$106,800 |
$106,800 |
| Age 50 catch-up elective deferrals |
$3,000 |
$4,000 |
$5,000 |
$5,000 |
$5,000 |
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