10 Year COLA Summary Page (2005-2001)
(2010-2006 Here)
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Qualified Plans Limits |
2005 |
2004 |
2003 |
2002 |
2001 |
401(k), 403(b) and SARSEP maximum deferral [402(g)] |
$14,000 |
$13,000 |
12,000 |
11,000 |
10,500 |
457 maximum deferral |
14,000 |
13,000 |
12,000 |
11,000 |
8,500 |
Catch-Up for 401(k), 403(b), SARSEP, and 457 |
4,000 |
3,000 |
2,000 |
1,000 |
- |
SIMPLE election maximum deferral |
10,000 |
9,000 |
8,000 |
7,000 |
6,500 |
Catch-Up for SIMPLE |
2,000 |
1,500 |
1,000 |
500 |
- |
DB - annual benefit |
170,000 |
165,000 |
160,000 |
160,000 |
140,000 |
DC - annual contributions |
42,000 |
41,000 |
40,000 |
40,000 |
35,000 |
IRA limit |
4,000 |
3,000 |
3,000 |
3,000 |
2,000 |
IRA catch up |
500 |
500 |
500 |
500 |
- |
Compensation Limits |
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Maximum compensation |
210,000 |
205,000 |
200,000 |
200,000 |
170,000 |
SEP annual compensation floor |
450 |
450 |
450 |
450 |
450 |
Highly compensated employees |
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Any employee compensation |
95,000 |
90,000 |
90,000 |
90,000 |
85,000 |
Key Employees |
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Officer compensation |
135,000 |
130,000 |
130,000 |
130,000 |
70,000 |
10 largest owners |
- |
- |
- |
- |
35,000 |
1% owner |
150,000 |
150,000 |
150,000 |
150,000 |
150,000 |
Converted Compensation Limits |
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Social Security |
90,000 |
87,900 |
87,000 |
84,900 |
80,400 |
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% |
Medicare rate |
1.45% |
1.45% |
1.45% |
1.45% |
1.45% |
Combined rate |
7.65% |
7.65% |
7.65% |
7.65% |
7.65% |
