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News & ViewsQUALIFIED RETIREMENT PLAN |
| Limitation | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 |
|---|---|---|---|---|---|---|
| Elective Deferrals (401(k)/ 403(b)/ 403(b)/ 457(b)(2)/ 457(c)(1) | $16,500 | $15,500 | $15,500 | $15,000 | $ 14,000 | $13,000 |
| Catch-Up Deferrals 401(k)/ 403(b)/ 457(b) | $5,500 | $5,000 | $5,000 | $5,000 | $ 4,000 | $3,000 |
| Defined Benefit Plans | $195,000 | $185,000 | $180,000 | $175,000 | $170,000 | $165,000 |
| Defined Contribution Plans | $49,000 | $46,000 | $45,000 | $44,000 | $ 42,000 | $41,000 |
| Annual Compensation | $245,000 | $230,000 | $225,000 | $220,000 | $210,000 | $205,000 |
| Highly Compensated Employee | $110,000 | $105,000 | $100,000 | $100,000 | $ 95,000 | $90,000 |
| SIMPLE Retirement Accounts | $11,500 | $10,500 | $10,500 | $10,000 | $ 10,000 | $9,000 |
| SIMPLE Catch-Up | $2,500 | $2,500 | $2,500 | $2,500 | $2,000 | $1,500 |
| SEP Coverage | $550 | $500 | $500 | $450 | $450 | $450 |
| Income Subject to Social Security Tax |
$106,800 | $102,000 | $97,500 | $94,200 | $ 90,000 | $87,900 |
| FICA Tax for Employees and Employers |
7.65% | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% |
| Social Security Tax for Employees and Employers | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% | 6.20% |
| Medicare Tax for Employees and Employers |
1.45% | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% |
| FICA Tax for Self-Employed Workers | 15.30% | 15.30% | 15.30% | 15.30% | 15.30% | 15.30% |
| Social Security Tax for Self-Employed Workers |
12.40% | 12.40% | 12.40% | 12.40% | 12.40% | 12.40% |
| Medicare Tax for Self-Employed Workers | 2.90% | 2.90% | 2.90% | 2.90% | 2.90% | 2.90% |
