Plan provision | 2010 limit |
---|---|
Maximum annual dollar benefit for a defined benefit plan | $195,000 |
Maximum dollar limit on additions to a defined contribution plan | $49,000 |
Maximum amount of compensation taken into account for qualified retirement plans | $245,000 |
Dollar limit for definition of “key employee” in top-heavy retirement plan | $160,000 |
Dollar limit for definition of “highly compensated employee” in qualified plan | $110,000 |
Dollar limit for elective deferrals to a 401(k) plan | $16,500 |
Dollar limit for contributions to a Savings Incentive Match Plan for Employees (SIMPLE) | $11,500 |
Dollar limit for elective deferrals to deferred compensation plans of state and local governments and tax-exempt organizations |
$16,500 |
Dollar limit for catch-up contributions to a SIMPLE | $2,500 |
Dollar limit for catch-up contributions to a 401(k), 457, 403(b) and Simplified Employee Pension (SEP) | $5,500 |
Other articles in the April 2010 Edition of Business Matters: