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2012 Retirement Plan Contribution Limits

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Last week, the IRS announced the 2012 cost of living adjustments for most retirement plans. Most limits have changed for 2012 and are reflected in the chart below. Contributing to a retirement plan is an excellent way for individuals to invest for retirement. The maximum dollar amounts which can be contributed through various types of retirement plans are as follows:

Plan Types 2012 Limits2011 Limits
Defined contribution plans$50,000$49,000
Defined benefit plans$200,000$195,000
Deferred contribution plans - 401(k), 403(b) and 457 plans:  
Under age 50$17,000$16,500
Age 50 and older$22,500$22,000
Simple plans:  
Under age 50$11,500$11,500
Age 50 and older$14,000$14,000
IRA, traditional and Roth:  
Under age 50$5,000$5,000
Age 50 and older$6,000$6,000
Other Thresholds2012 Limits2011 Limits
Annual compensation limit$250,000$245,000
Key employee in a top-heavy plan$165,000$160,000
Highly compensated employee$115,000$110,000

Please call your dedicated Marcum professional to address your particular retirement planning needs and for a complete update on the retirement plan limit changes.

 
 
 
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