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Fox & Fox

10 Year COLA Summary Page (2010-2006)

(2005-2001 Here)

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Qualified Plans Limits

2010

2009

2008

2007

2006

401(k), 403(b) and SARSEP maximum deferral [402(g)]

$16,500

$16,500

$15,500

$15,500

15,000

457 maximum deferral

16,500

16,500

15,500

15,500

15,000

Catch-Up for 401(k), 403(b), SARSEP, and 457

5,500

5,500

5,000

5,000

5,000

SIMPLE election maximum deferral

11,500

11,500

10,500

10,500

10,000

Catch-Up for SIMPLE

2,500

2,500

2,500

2,500

2,500

DB - annual benefit

195,000

195,000

185,000

180,000

  175,000

DC - annual contributions

49,000

49,000

46,000

45,000

44,000

IRA limit

5,000

5,000

5,000

4,000

4,000

IRA catch up

1,000

1,000

1,000

1,000

1,000

Compensation Limits  

Maximum compensation

245,000

245,000

230,000

225,000

220,000

SEP annual compensation floor

550

550

500

500

450

Highly compensated employees

Any employee compensation

110,000

110,000

105,000

100,000

100,000

Key Employees

Officer compensation

160,000

160,000

150,000

145,000

140,000

10 largest owners

-

-

-

-

-

1% owner

150,000

150,000

150,000

150,000

150,000

Converted Compensation Limits

Social Security

106,800

106,800

102,000

97,500

94,200

Medicare

no limit

no limit

no limit

no limit

no limit

Self-Employment Tax Rate

Self-employment tax rate

12.40%

12.40%

12.40%

12.40%

12.40%

Medicare rate

2.90%

2.90%

2.90%

2.90%

2.90%

Combined rate

15.30%

15.30%

15.30%

15.30%

15.30%

Social Security Tax Rate

Social security rate

6.20%

6.20%

6.20%

6.20%

6.20%

Medical rate

1.45%

1.45%

1.45%

1.45%

1.45%

Combined rate

7.65%

7.65%

7.65%

7.65%

7.65%

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