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News
October 19, 2012 - 2013 Cost of Living Adjustments
The Internal Revenue Code provides for dollar limitations on benefits and contributions under qualified retirement plans. Code Section 415 requires the limit to be adjusted annually for cost-of-living increases.
2013 2012 2011 IRAs IRA AGI Deduction Phase-out Starting at SEP SIMPLE Plans 401(k), 403(b), Profit-Sharing Plans, etc. 250,000 1,035,000 205,000 1,015,000 200,000 985,000 195,000 Other
Section
IRA Contribution Limit - 219(b)(5)(A)
5,500
5,000
5,000
IRA Catch-Up Contributions - 219(b)(5)(B)
1,000
1,000
1,000
Joint Return
95,000
92,000
90,000
Single or Head of Household
59,000
58,000
56,000
SEP Minimum Compensation - 408(k)(2)(C)
550
550
550
SEP Maximum Compensation - 408(k)(3)(C)
255,000
250,000
245,000
SIMPLE Maximum Contributions - 408(p)(2)(E)
12,000
11,500
11,500
Catch-up Contributions - 414(v)(2)(B)(ii)
2,500
2,500
2,500
Annual Compensation - 401(a)(17)/404(l)
255,000
Elective Deferrals - 402(g)(1)
17,500
17,000
16,500
Catch-up Contributions - 414(v)(2)(B)(i)
5,500
5,500
5,500
Defined Contribution Limits - 415(c)(1)(A)
51,000
50,000
49,000
ESOP Limits - 409(o)(1)(C)
HCE Threshold - 414(q)(1)(B)
115,000
115,000
110,000
Defined Benefit Limits - 415(b)(1)(A)
205,000
200,000
195,000
Key Employee - 416(i)(1)(A)(i)
165,000
165,000
160,000
457 Elective Deferrals - 457(e)(15)
17,500
17,000
16,500
Control Employee - 1.61-21(f)(5)(i)
100,000
100,000
95,000
Control Employee - 1.61-21(f)(5)(iii)
205,000
205,000
195,000
Taxable Wage Base
113,700
110,100
106,800