10 Year COLA Summary Page (2007-2003)
(2012-2008 Here)
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Qualified Plans Limits |
2007 |
2006 |
2005 |
2004 |
2003 |
401(k), 403(b) and SARSEP maximum deferral [402(g)] |
$15,500 | $15,000 |
$14,000 |
$13,000 |
$12,000 |
457 maximum deferral |
15,500 | 15,000 |
14,000 |
13,000 |
12,000 |
Catch-Up for 401(k), 403(b), SARSEP, and 457 |
5,000 | 5,000 |
4,000 |
3,000 |
2,000 |
SIMPLE election maximum deferral |
10,500 | 10,000 |
10,000 |
9,000 |
8,000 |
Catch-Up for SIMPLE |
2,500 | 2,500 |
2,000 |
1,500 |
1,000 |
DB - annual benefit |
180,000 | 175,000 |
170,000 |
165,000 |
160,000 |
DC - annual contributions |
45,000 | 44,000 |
42,000 |
41,000 |
40,000 |
IRA limit |
4,000 | 4,000 |
4,000 |
3,000 |
3,000 |
IRA catch up |
1,000 | 1,000 |
500 |
500 |
500 |
Compensation Limits |
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Maximum compensation |
220,000 | 220,000 |
210,000 |
205,000 |
200,000 |
SEP annual compensation floor |
450 | 450 |
450 |
450 |
450 |
Highly compensated employees |
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Any employee compensation |
100,000 |
100,000 |
95,000 |
90,000 |
90,000 |
Key Employees |
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Officer compensation |
140,000 | 140,000 |
135,000 |
130,000 |
130,000 |
1% owner |
150,000 | 150,000 |
150,000 |
150,000 |
150,000 |
Covered Compensation Limits |
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Social Security |
94,200 |
94,200 |
90,000 |
87,900 |
87,000 |
Medicare |
no limit |
no limit |
no limit |
no limit |
no limit |
FICA and SECA tax rates |
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OASDI (ER and Ee, each) |
6.20% |
6.20% |
6.20% |
6.20% |
6.20% |
Medicare (ER and Ee, each) |
1.45% |
1.45% |
1.45% |
1.45% |
1.45% |
Combined rate (ER and Ee, each) |
7.65% |
7.65% |
7.65% |
7.65% |
7.65% |
OASDI (self-employed) |
12.40% |
12.40% |
12.40% |
12.40% |
12.40% |
Medicare (self-employed) |
2.90% |
2.90% |
2.90%% |
2.90% |
2.90% |
Combined rate (self-employed) |
15.30% |
15.30% |
15.30% |
15.30% |
15.30% |
ESOP Distribution |
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Normal dist. Period (years) |
5 |
5 |
5 |
5 |
5 |
Threshold account balance IRC 409(o)(1)(c) |
915,000 | 885,000 |
850,000 |
830,000 |
810,000 |
One year extension threshold IRC 409(o)(1)(c)(ii) |
180,000 | 175,000 |
170,000 |
165,000 |
160,000 |
Max. additional distribution periods allowable years |
5 |
5 |
5 |
5 |
5 |
Maximum PBGC - Insured Annuity (ERISA Reg. 4022.23(c)) |
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Age 65/100% Paid |
4,125.00 | 3,971.59 |
3,801.14 |
3,698.86 |
3,664.77 |
Age 64/93% |
3,836.25 | 3,639.58 |
3,535.06 |
3,439.94 |
|
Age 63/86% |
3.547.50 | 3,415.57 |
3,268.98 |
3,181.02 |
|
Age 62/79% |
3,258.75 | 3,137.56 |
3,002.90 |
2,922.10 |
2,895.17 |
Age 61/72% |
2,970.00 | 2,859.54 |
2,736.82 |
2,663.18 |
|
Age 60/65% |
2,681.25 | 2,581.53 |
2,470.74 |
2,404.26 |
2,382.10 |
Age 59/61% |
2,516.25 | 2,422.67 |
2,138.70 |
2,256.30 |
|
Age 58/61% |
2,351.25 | 2,263.81 |
2,166.65 |
2,108.35 |
|
Age 57/53% |
2,186.25 | 2,104.94 |
2,014.60 |
1,960.40 |
|
Age 56/49% |
2,021.25 | 1,946.08 |
1,862.56 |
1,812.44 |
|
Age 55/45% |
1,856.25 | 1,787.22 |
1,710.51 |
1,664.49 |
1,649.15 |
