Thursday, December 11, 2008

2009 COLA Limits

IRS Announces the 2009 Cost of Living Increases for retirement plan limitations. IR-2008-118.

Maximum Elective Deferral Limit (402(g)) -- $16,500

Maximum Catch Up Limit (414(v)(2)(B)(ii)) -- $5,500

Defined Contribution 415 Annual Additions Limit (415(c)(1)(A) -- $49,000

Annual Compensation Limit (401(a)(17)) -- $245,000

Defined benefit 415 Annual Benefit Limit (415(b)(1)(A)) -- $195,000

Highly Compensated Employee Definition (414(q)(1)(B) -- $110,000

Key Employee/Officer(416(i)(1)(A)(i) -- $160,000

Social Security Taxable Wage Base -- $106,800

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