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October 29, 2007
2007/2008 Cost Of Living Indexed Adjustments
For Qualified Plans |
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2008 |
2007 |
| Employee Salary Deferral Limit to
401(k) Plans |
$15,500 |
$15,500 |
| Catch – up (age 50+) Deferral Limit
to 401(k) Plans |
$5,000 |
$5,000 |
| Defined Contribution Maximum Annual
Additions [IRC 415(c)] |
$ 46,000 |
$ 45,000 |
| Defined Benefit Maximum Annual Benefit
[IRC 415(b)] |
$185,000 |
$180,000 |
| Maximum Compensation for Qualified
Retirement Plans [IRC 401(a)(17), 404(l)] |
$230,000 |
$225,000 |
| Definition of Highly Compensated
Employees [IRC 414(q)] |
$105,000 |
$100,000 |
| FICA Taxable Wage Base |
$102,000 |
$97,500 |
| SEP Minimum Compensation |
$500 |
$500 |
| Simple Retirement Accounts - Employee Salary Deferral Limit |
$10,500 |
$10,500 |
| Catch – up (age 50+) Deferral Limit for Simple
Retirement Accounts |
$2,500 |
$2,500 |
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