2007 Benefit Plan Limits
|
Contribution/Limit: |
2006 Limit |
2007 Limit |
|
401(k)/403(b) Contributions* |
$15,000 |
$15,500 |
|
457(b) Limit |
$15,000 |
$15,500 |
|
Catch-up Contributions |
$5,000 |
$5,000 |
|
Compensation Limit** |
$220,000 |
$225,000 |
|
Highly Compensated Employees** |
$100,000 |
$100,000 |
|
Key Employee Officer Compensation** |
$140,000 |
$145,000 |
|
Maximum Annual Benefit - Defined Benefit Plan** |
$175,000 |
$180,000 |
|
Maximum Annual Contribution - Defined Contribution Plans** |
$44,000 |
$45,000 |
|
ESOP Limits- Dollar limit for determining lengthening of 5-year period* |
$175,000 |
$180,000 |
|
ESOP Limits - Dollar amount for determining max. amount subject to 5-year distribution* |
$885,000 |
$915,000 |
|
Maximum SIMPLE contribution |
$10,000 |
$10,500 |
|
FICA Wage Base *** |
$94,200 |
$97,500 |
*Calendar year limitation
**For plan years beginning in the calendar year. The compensation limit and key employee officer compensation also apply for purposes of Code Section 409A.
***Calendar year limitation for FICA withholding purposes and for plan years beginning in the calendar year for retirement plan purposes.
