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November 6, 2003
2003/2004 Cost of Living Indexed Adjustments
for Qualified Plans |
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2003 |
2004 |
| Employee Salary Deferral Limit to
401(k) Plans |
$12,000 |
$13,000 |
| Catch – up (age 50+) Deferral Limit
to 401(k) Plans |
$2,000 |
$3,000 |
| Defined Contribution Maximum Annual
Additions [IRC 415(c)] |
$ 40,000 |
$ 41,000 |
| Defined Benefit Maximum Annual Benefit
[IRC 415(b)] |
$160,000 |
$165,000 |
| Maximum Compensation for Qualified
Retirement Plans [IRC 401(a)(17), 404(l)] |
$200,000 |
$205,000 |
| Definition of Highly Compensated
Employees [IRC 414(q)] |
$90,000 |
$90,000 |
| FICA Taxable Wage Base |
$87,000 |
$87,900 |
| SEP Minimum Compensation |
$450 |
$450 |
| SIMPLE Retirement Accounts |
$8,000 |
$9,000 |
| Catch – up (age 50+) Limit for Simple
Retirement Accounts |
$1,000 |
$1,500 |
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