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October 29, 2007

2007/2008 Cost Of Living Indexed Adjustments For Qualified Plans
  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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