October 17, 2009 |
Posted By Diane Pfadenhauer |
2010 Benefit Plan Contribution Limits Just Released by IRS
| 401(a)(17)/ 404(l) Annual Compensation | 245,000 |
| 402(g)(1) Elective Deferrals (Your 401(k) Contribution Limit) | 16,500 |
| 408(p)(2)(E) SIMPLE Maximum Contributions | 11,500 |
| 414(q)(1)(B) HCE Threshold | 110,000 |
| 414(v)(2)(B)(i) Catch-up Contributions | 5,500 |
| 415(b)(1)(A) DB Limits | 195,000 |
| 415(c)(1)(A) DC Limits | 49,000 |
| 219(b)(5)(A) IRA Contribution Limit | 5,000 |
| 219(b)(5)(B) IRA Catch-Up Contributions | 1,000 |
| 457(e)(15) Deferral Limits | 16,500 |
The Internal Revenue Service just issued an announcement on the cost-of-living adjustments applicable to dollar limitations for pension plans and other items for tax year 2010. There had been speculation that the amount of contributions were going to go down, not up, next year in response to economic conditions, inflation and whatever other magic the IRS uses to determine contributions. For the geeks among us: You will notice they are the same as 2009.
Follow these links....
IRS Announcement: COLA Increases for Dollar Limitations on Benefits and Contributions
For more discussion: IRS: Retirement contributions same for 2010
