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IRS Announces 2012 Contribution Limits

Posted on December 9, 2011
HeliosWritten by Helios | Email author

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The Internal Revenue Service (IRS) and the Social Security Administration (SSA) have issuedthe cost of living increases for qualified retirement plans for 2012. The 401(k) elective deferral limit (i.e. 402(g)) has increased for 2012, but the catch-up contribution limit has remained unchanged.

Highlights of the limits for 2012 include the following:

  • 401(k) elective deferral limit – $16, 500 in 2011 to $17, 000 in 2012
  • Catch-up contribution limit – $5,500 in 2011 to $5,500 in 2012
  • Section 415 limit (DC) – $49,000 in 2011 to $50,000 in 2012
  • Section 415 limit (DB) – $195, 000 in 2011 to $200,000 in 2012
  • Section 401(a)(17) includible compensation – $245, 000 in 2011 to $250,000 in 2012
  • HCE definition – $110,000 in 2011 to $115, 000 in 2012
  • Key employee definition – $160,000 in 2011 to $165,000 in 2012
  • FICA taxable wage base – $106, 800 in 2011 to $110,100 in 2012

The full press release from the IRS announcing this year’s contribution limits can be found here.

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