Access to our business portal is reserved for clients who have requested our portal services. This is a secure extension of our website designed to allow better, more convenient communication exchange, including documents and services. If you would like to learn more about this service, please contact us.
Access Business Portal »
Access to our personal portal is reserved for clients who have requested our portal services. This is a secure extension of our website designed to allow better, more convenient communication exchange, including documents and services. If you would like to learn more about this service, please contact us.
Access Personal Portal »
Financial Rx
March 2010 | Volume 3 Issue 3
Retirement Plan Limits Hold for 2010
The IRS has announced the annual cost-of-living adjustments for certain retirement-plan thresholds. Due to the relatively low inflation rate, the limits for 2010 remain the same as they were in 2009.
| Plan provision | 2010 limit |
|---|---|
| Maximum annual dollar benefit for a defined benefit plan | $195,000 |
| Maximum dollar limit on additions to a defined contribution plan | $49,000 |
| Maximum amount of compensation taken into account for qualified retirement plans | $245,000 |
| Dollar limit for definition of “key employee” in top-heavy retirement plan | $160,000 |
| Dollar limit for definition of “highly compensated employee” in qualified plan | $110,000 |
| Dollar limit for elective deferrals to a 401(k) plan | $16,500 |
| Dollar limit for contributions to a Savings Incentive Match Plan for Employees (SIMPLE) | $11,500 |
| Dollar limit for elective deferrals to deferred compensation plans of state and local governments and tax-exempt organizations | $16,500 |
| Dollar limit for catch-up contributions to a SIMPLE | $2,500 |
| Dollar limit for catch-up contributions to a 401(k), 457, 403(b) and Simplified Employee Pension (SEP) | $5,500 |
Other articles in the March 2010 Edition of Financial Rx:
Our Professional Services Team
Kim Lindsay
Principal & Vice President
.(JavaScript must be enabled to view this email address)
