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IRS
Some annual limits for 2006 and 2007
|
Type
|
2007
|
2008
|
| Taxable
Wage Base |
$
97,500
|
$
102,000
|
| *401(k)
Deferral (age under 50 by 12/31) |
$
15,500
|
$
15,500
|
| *401(k)
Deferral (age 50 or more by 12/31) |
$
20,500
|
$
20,500
|
| *Simple
Deferral (age under 50 by 12/31) |
$
10,500
|
$
10,500
|
| *Simple
Deferral (age 50 or more by 12/31) |
$
13,000
|
$
13,000
|
| *Annual
Addition - Defined Contribution Plan |
$
45,000
|
$
46,000
|
| Annual
Benefit - Defined Benefit Plan |
$180,000
|
$185,000
|
| Annual
Compensation |
$
225,000
|
$
230,000
|
| Highly
Compensated Employee |
$
100,000
|
$
105,000
|
The
limit for those items with * above is actually the lesser of 100%
of pay or the dollar amount listed.
Annual
corporate deductions for defined contribution plans cannot exceed
25% of compensations of eligible participants. Annual corporate
deductions for defined benefit plans are actuarially determined
and generally have no dollar or percentage limit
1016 Mill Creek Drive, Feasterville, PA 19053
- 215-953-1520 - fax -215-953-8650
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