The IRS has recently announced the Cost Of Living Adjustment for 2009. For the complete listing, click on the title of this post above to be taken to the IRS Announcement 2008-118. For your convenience, below are the major limitations that impact retirement plans:
401(k) & 403(b) Deferral Limit: $16,500
401(k), 403(b), 457 Catch-Up Contribution Limit: $5,500
SIMPLE Deferral Limit: $11,500
SIMPLE 401(k) & IRA Catch-Up Contribution Limit: $2,500
Annual Compensation Limit: $245,000
DB 415 Limit: $195,000
DC 415 Limit: $49,000
Dollar Limit for HCE: $110,000
Dollar Limit for Key Employee: $160,000
Social Security Taxable Wage Base: $106,8000
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