2012 Annual Benefit Plan Amounts |
Contribution & Benefit Limits |
2011 Limit |
2012 Limit |
Section 401(k), 403(b), or 457(b) annual deferral |
$16,500 |
$17,000 |
SIMPLE plan annual deferral |
$11,500 |
$11,500 |
Section 415 maximums |
— annual benefit from
defined benefit plan |
$195,000 |
$200,000 |
— annual additions to defined
contribution plan |
$49,000 |
$50,000 |
Maximum IRA contribution |
$5,000 |
$5,000 |
Catch-up contribution limits |
— retirement plan |
$5,500 |
$5,500 |
— SIMPLE plan |
$2,500 |
$2,500 |
— IRA |
$1,000 |
$1,000 |
Compensation Amounts |
Annual compensation limit |
$245,000 |
$250,000 |
Grandfathered governmental plan participants |
$360,000 |
$375,000 |
Highly compensated employees |
— any employee* |
$110,000 |
$115,000** |
— 5-percent owner |
no minimum |
no minimum |
*Employer may elect to limit to top-paid 20%**Due to the look-back rule, first applies in determining HCEs in 2013. |
Key employees |
— officer |
$160,000 |
$165,000 |
— 1-percent owner |
$150,000 |
$150,000 |
— 5-percent owner |
no minimum |
no minimum |
|
Social Security/HSA Limits |
Social Security |
2011 Limit |
2012 Limit |
— OASDI taxable wage base |
$106,800 |
$110,100 |
— OASDI tax rate – employer |
6.2% |
6.2% |
— OASDI tax rate – employee |
4.2% |
6.2%# |
— maximum monthly benefit at
SSRA* |
$2,366 |
$2,513 |
— cost of living adjustment |
0% |
3.6% |
Maximum income without reducing Social Security retirement benefits |
— SSRA* or over |
no limit |
no limit |
— year individual attains SSRA* |
$3,140/mo^ |
$3,240/mo^ |
— under SSRA* |
$14,160/yr |
$14,640/yr |
#Subject to legislative change.
*Social Security Retirement Age (age at which an individual may receive an unreduced monthly benefit).
^No limit on earnings beginning the month an individual attains SSRA. |
HSA Limits |
Maximum HSA contribution |
— individual |
$3,050 |
$3,100 |
— family |
$6,150 |
$6,250 |
Minimum HDHP deductible |
— individual |
$1,200 |
$1,200 |
— family |
$2,400 |
$2,400 |
Catch-up contribution limit |
$1,000 |
$1,000 |
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