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Annual Limits
|
Type of Limitation |
2008 |
2007 |
|
401(k), 403(b) and 457 Deferral Limit |
$15,500 |
$15,500 |
|
401(k), 403(b), and 457 Catch-up Contribution Limit |
$5,000 |
$5,000 |
|
SIMPLE Deferral Limit |
$10,500 |
$10,500 |
|
SIMPLE Catch-up Contribution Limit |
$2,500 |
$2,500 |
|
Annual Compensation Limit |
$230,000 |
$225,000 |
|
Defined Benefit 415 Limit |
$185,000 |
$180,000 |
|
Defined Contribution 415 Limit |
$46,000 |
$45,000 |
|
Dollar Limit to Determine Highly Compensated Employee* |
$105,000 |
$100,000 |
|
Dollar Limit to Determine Key Employee |
$150,000 |
$145,000 |
|
Comp Limit for SEP Eligibility |
$500 |
$500 |
|
Social Security Taxable Wage Base |
$102,000 |
$97,500 |
|
IRA |
$5,000 |
$4,000 |
|
IRA Catch-up |
$1,000 |
$1,000 |
*An employee earning more than $105,000 in 2007 will be considered to be a Highly Compensated Employee in 2008.
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