Listed below are the new limits for 2001. For a summary of the last eight year’s limits, please see the following page.
|
DESCRIPTION |
|
LIMIT |
|
YEAR |
|
|
401(k) and
403(b) Deferrals [IRC
402(g)(1)] |
|
$ |
10,500 |
|
Calendar year
2001. |
|
SIMPLE
Deferral [IRC
408(p)(2)(A)] |
|
$ |
6,500 |
|
Calendar year
2001. |
|
457 Plan
Deferral [IRC 457(b)(2)
& (c)(1)] |
|
$ |
8,500 |
|
Calendar year
2001. |
|
Defined
Benefit Plan Maximum [IRC
415(b)(1)(A)] |
|
$ |
140,000 |
|
Limitation
years ending in 2001. |
|
Defined
Contribution Plan Maximum [IRC
415(c)(1)(A)] |
|
$ |
35,000 |
|
Limitation
years ending in 2001. |
|
Maximum
Compensation [IRC 408(k)(3)(C), IRC 401(a)(17), and IRC 404(1)] |
|
$ |
170,000 |
|
Plan years
beginning in 2001. |
|
Minimum
Compensation under SEPs [IRC
408(k)(2)(C)] |
|
$ |
450 |
|
Plan years
beginning in 2001. |
|
FICA Wage Base
For Integrated Plans [IRC 401(l)] |
|
$ |
80,400 |
|
Plan years
beginning in 2001. |
|
Integration
Rate [IRC 401(l)] |
|
5.7% |
|
Plan years
beginning in 2001. |
|
|
Extended
Payout Terms On ESOPs [IRC
409(o)(1)(C)(ii)] |
|
$ $ |
155,000 and 780,000 |
|
Distributions
made in calendar year
2001. |
|
Compensation
Limit Used In Definition Of Highly Compensated Employee [IRC
414(q)(1)(B)] |
|
$ |
85,000 |
|
Plan years
beginning in 2001. |
|
Compensation
Limit Used For Officers In Definition Of Key Employees [IRC
416(i)(1)(A)(i)] |
|
$ |
70,000 |
|
Plan years
beginning in 2001. |
|
IRS LIMITS ON RETIREMENT PLAN BENEFITS AND COMPENSATION |
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|
|
|
2001 |
|
2000 |
|
1999 |
|
1998 |
|
1997 |
|
1996 |
|
1995 |
|
1994 |
|
DEFINED BENEFIT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MAXIMUM
ANNUAL PENSION |
$ |
140,000 |
$ |
135,000 |
$ |
130,000 |
$ |
130,000 |
$ |
125,000 |
$ |
120,000 |
$ |
120,000 |
$ |
118,800 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DEFINED CONTRIBUTION |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MAXIMUM
ANNUAL ADDITION |
$ |
35,000 |
$ |
30,000 |
$ |
30,000 |
$ |
30,000 |
$ |
30,000 |
$ |
30,000 |
$ |
30,000 |
$ |
30,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
401(k) PLAN |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MAXIMUM
ELECTIVE DEFERRAL |
$ |
10,500 |
$ |
10,500 |
$ |
10,000 |
$ |
10,000 |
$ |
9,500 |
$ |
9,500 |
$ |
9,240 |
$ |
9,240 |
|
SIMPLE
DEFERRAL |
$ |
6,500 |
$ |
6,000 |
$ |
6,000 |
$ |
6,000 |
$ |
6,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SEP COMPENSATION AMOUNT |
$ |
450 |
$ |
450 |
$ |
400 |
$ |
400 |
$ |
400 |
$ |
400 |
$ |
400 |
$ |
396 |
|
|
|
|
|
|
|
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|
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|
|
|
|
|
|
QUALIFIED PLANS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MAXIMUM
COMPENSATION LIMITS |
$ |
170,000 |
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