|
Traditional and Roth IRA Annual Contribution Limits
| Year |
Normal Contribution |
Catch-up Contribution |
| 2001 |
$2,000 |
$0 |
| 2002 |
$3,000 |
$500 |
| 2003 |
$3,000 |
$500 |
| 2004 |
$3,000 |
$500 |
| 2005 |
$4,000 |
$500 |
| 2006 |
$4,000 |
$1,000 |
| 2007 |
$4,000 |
$1,000 |
| 2008 |
$5,000 |
$1,000 |
| 2009+ |
Indexed* |
$1,000 |
| *Normal contribution limits will increase annually by $500 whenever cumulative inflation exceeds the next higher $500 increment |
|
Qualified Retirement Plan Limits
|
2006
|
2007
|
|
Defined Benefit Plans Annual Benefit under 415 (b)(1)(A)
|
$175,000
|
$180,000
|
|
Defined Contribution Plans Annual Contributions under 415 (c)(1)(A)
|
44,000
|
45,000
|
|
401 (a)(17) and 404(1) Qualified Plan Annual Compensation Limit
|
220,000
|
225,000
|
|
Highly Compensated Employees Compensation Level 414 (q)(1)(B)
|
100,000
|
100,000
|
|
401(k) Elective Deferrals 402(g)(1)
|
15,000
|
15,500
|
|
401(k) Maximum deferral with catch-up 414(v)(2)(B)(i)
|
20,000
|
20,500
|
|
SEP Minimum Compensation Amount 408 (k)(2)(C)
|
450
|
500
|
|
SEP Minimum Compensation Amount 408 (k)(3)(C)
|
220,000
|
225,000
|
|
SIMPLE Plans Maximum Deferral Limit 408(p)(2)(E)
|
10,000
|
10,500
|
|
SIMPLE Maximum Deferral with catch-up 414(v)(2)(B)(ii)
|
12,500
|
13,000
|
|
457 Plans Maximum Deferral Limit under 457(e)(15) and 457(c)(1)
|
15,000
|
15,500
|
|
457 Maximum deferral with catch-up 414(v)(2)(B)(i)
|
20,000
|
20,500
|
|
Key Employee Compensation Level 416 (i)(l)(A)(i)
|
140,000
|
145,000
|
|
Social Security Wage Base
|
94,200
|
97,500
|
|
