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Labor & Employment Law

: Strategic HR Lawyer

2010 Benefit Plan Contribution Limits Just Released by IRS

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2010 Benefit Plan Contribution Limits
401(a)(17)/ 404(l) Annual Compensation	245,000
402(g)(1) Elective Deferrals (Your 401(k) Contribution Limit)	16,500
408(p)(2)(E) SIMPLE Maximum Contributions	11,500
414(q)(1)(B) HCE Threshold	110,000
414(v)(2)(B)(i) Catch-up Contributions	5,500
415(b)(1)(A) DB Limits	195,000
415(c)(1)(A) DC Limits	49,000
219(b)(5)(A) IRA Contribution Limit	5,000
219(b)(5)(B) IRA Catch-Up Contributions	1,000
457(e)(15) Deferral Limits	16,500

The Internal Revenue Service just issued an announcement on the cost-of-living adjustments applicable to dollar limitations for pension plans and other items for tax year 2010. There had been speculation that the amount of contributions were going to go down, not up, next year in response to economic conditions, inflation and whatever other magic the IRS uses to determine contributions. For the geeks among us: You will notice they are the same as 2009.

Follow these links....

IRS Announcement: COLA Increases for Dollar Limitations on Benefits and Contributions

For more discussion: IRS: Retirement contributions same for 2010

Full post as published by Strategic HR Lawyer on October 17, 2009 (boomark / email).