2013 Retirement Plan Limits

It’s that time of the year as the Internal Revenue Service announced their 2013 Retirement Plan Limits.  Some limits stay the same, but some have increased.

  • Annual Compensation:  Increases from $250,000 to $255,000
  • Elective Deferrals

◦                      401(k)/403(b)/457:  Increases from $17,000 to $17,500

◦                      SIMPLE IRA: Increases from $11,500 to $12,000

  • Catch-Up Contributions

◦                      401(k)/403(b)/457: Unchanged at $5,500

◦                      SIMPLE IRA: Unchanged at $2,500

  • Annual Additions Limit

◦                      Defined Contribution Plan:  Increases from $50,000 to $51,000

◦                      Defined Benefit Plan:  Increases from $200,000 to $205,000

  • HCE Determination:  Compensation unchanged at $115,000
  • Key Employee:  Officer compensation unchanged at $165,000
  • Social Security Wage Base:  Increases from $110,100 to $113,700

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