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2012 Annual Benefit Plan Amounts
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Contribution & Benefit Limits
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2011 Limit
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2012 Limit
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Section 401(k), 403(b), or 457(b) annual deferral
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$16,500
|
$17,000
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|
SIMPLE plan annual deferral
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$11,500
|
$11,500
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|
Section 415 maximums
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-- annual benefit from defined benefit plan
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$195,000
|
$200,000
|
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-- annual additions to defined contribution plan
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$49,000
|
$50,000
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|
Maximum IRA contribution
|
$5,000
|
$5,000
|
|
Catch-up contribution limits
|
|
-- retirement plan
|
$5,500
|
$5,500
|
|
-- SIMPLE plan
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$2,500
|
$2,500
|
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-- IRA
|
$1,000
|
$1,000
|
|
Compensation Amounts
|
|
Annual compensation limit
|
$245,000
|
$250,000
|
|
Grandfathered governmental plan participants
|
$360,000
|
$375,000
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Highly compensated employees
|
|
-- any employee*
|
$110,000
|
$115,000**
|
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-- 5-percent owner
|
no minimum
|
no minimum
|
|
*Employer may elect to limit to top-paid 20%
**Due to the look-back rule, first applies in determining HCEs in 2013.
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|
Key employees
|
|
-- officer
|
$160,000
|
$165,000
|
|
-- 1-percent owner
|
$150,000
|
$150,000
|
|
-- 5-percent owner
|
no minimum
|
no minimum
|
|
|
Social Security/HSA Limits
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|
Social Security
|
2011 Limit
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2012 Limit
|
|
-- OASDI taxable wage base
|
$106,800
|
$110,100
|
|
-- OASDI tax rate - employer
|
6.2%
|
6.2%
|
|
-- OASDI tax rate - employee
|
4.2%
|
6.2%#
|
|
-- maximum monthly benefit at SSRA*
|
$2,366
|
$2,513
|
|
-- cost of living adjustment
|
0%
|
3.6%
|
|
Maximum income without reducing Social Security retirement benefits
|
|
-- SSRA* or over
|
no limit
|
no limit
|
|
-- year individual attains SSRA*
|
$3,140/mo^
|
$3,240/mo^
|
|
-- under SSRA*
|
$14,160/yr
|
$14,640/yr
|
|
#Subject to legislative change.
*Social Security Retirement Age (age at which an individual may receive an unreduced monthly benefit).
^No limit on earnings beginning the month an individual attains SSRA.
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HSA Limits
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|
Maximum HSA contribution
|
|
-- individual
|
$3,050
|
$3,100
|
|
-- family
|
$6,150
|
$6,250
|
|
Minimum HDHP deductible
|
|
-- individual
|
$1,200
|
$1,200
|
|
-- family
|
$2,400
|
$2,400
|
|
Catch-up contribution limit
|
$1,000
|
$1,000
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