|
|
|
2007
|
2006
|
2005
|
2004
|
|
Traditional IRA, Roth IRA,
Spousal Guardian
|
$4,000
|
$4,000
|
$4,000
|
$3,000
|
|
Traditional, Roth, Spousal IRA
Catch-up Contribution
|
$1,000
|
$1,000
|
$500
|
$500
|
|
Coverdell ESA (per beneficiary)
|
$2,000
|
$2,000
|
$2,000
|
$2,000
|
|
Employer Deduction Limit
(SEP, MPP, PSP, 401(k))*
|
25%
aggregate
comp
|
25%
aggregate
comp
|
25%
aggregate
comp
|
25%
aggregate
comp
|
Elective Deferrals (402(g) Limit) 401(k), SARSEP,
457 and 403(b)
|
$15,500
|
$15,000
|
$14,000
|
$13,000
|
|
Defined Contribution 415 Limit
(the lesser of)
|
100% comp
or $45,000
|
100% comp
or $44,000
|
100% comp
or $42,000
|
100% comp
or $41,000
|
|
Salary Deferral Catch-up Limit (does
not count against 415 Limits in a 401(k) plan)
|
$5,000
|
$5,000
|
$4,000
|
$3,000
|
|
SIMPLE Plan Deferrals
|
$10,500
|
$10,000
|
$10,000
|
$9,000
|
|
SIMPLE IRA Catch-up Limit
|
$2,500
|
$2,500
|
$2,000
|
$1,500
|
|
Defined Benefit 415 Limit
|
$180,000
|
$175,000
|
$170,000
|
$165,000
|
|
Annual Compensation Cap
|
$225,000
|
$220,000
|
$210,000
|
$205,000
|
|
SEP Participation Compensation Minimum
|
$500
|
$450
|
$450
|
$450
|
|
Highly Compensated Employee (HCE)
|
$100,000
|
$100,000
|
$95,000
|
$90,000
|
|
Key Employee Officer Definition
|
$145,000
|
$140,000
|
$135,000
|
$130,000
|
|
Social Security Taxable Wage Base
|
$97,500
|
$94,200
|
$90,000
|
$87,900
|
* Sole
proprietorships may have a different calculation limit
due to a sole proprietorship calculation. |
|
|
|
|
