new qualified plan limits

The Internal Revenue Service has announced the plan limits effective January 1, 2010.

The figures are effective January 1, 2010. A comparison with 2009 and 2008 limits follow:


describe the image Elective Deferrals for 401(k) and 403(b) Plans *
describe the image Elective Deferral Catch-Up *
describe the image Maximum Annual Compensation *
describe the image Defined Contribution Annual Addition Limit **
describe the image Defined Benefit Annual Limit
describe the image Highly Compensated Threshold*
describe the image SIMPLE IRA Contribution Limit
describe the image SIMPLE IRA Catch Up Contribution

2010
$16,500
$5,500
$245,000
$49,000
$195,000
$110,000
$11,500
$2,500

2009
$16,500
$5,500
$245,000
$49,000
$195,000
$110,000
$11,500
$2,500

2008
$15,500
$5,000
$230,000
$46,000
$195,000
$105,000
$10,500
$2,500

* subject to cost of living adjustments in later years
** subject to cost of living adjustments in later years for each employee
Source: http://www.irs.gov/retirement/article/0,,id=112858,00.html#6
1 Source: http://www.ssa.gov/OACT/COLA/cbb.html

The tax information contained in this material is based on federal laws existing on the date of its publication and is provided as a general information service by Howell Benefits. Neither Howell Benefits nor Tower Square Securities, Inc. offers tax or legal advice. You should consult your legal or tax advisor for more information on these subjects. Securities and Investment Advisory Services offered by representatives of Tower Square Securities, Inc. MemberFINRA/SIPC. Howell Benefits is a separate entity from Tower Square Securities, Inc. and is not a broker/dealer.

L1109075333 (exp 1210)(PA)

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