Due date for 2011 contributions will be Tuesday, April 17, 2012 due to Emancipation Day (a Washington, D.C. holiday)!
Some retirement plans are indexed for inflation each year. Below is a chart listing specific retirement plans and contribution limits for 2012.
|
IRS Limits |
2012 |
2012 Catch-up |
|
401(k), SARSEP, 403(b), and 457 plan deferrals |
$17,000 |
$5,500 |
|
SIMPLE plan deferrals |
$11,500 |
$2,500 |
|
Compensation defining highly compensated employee* |
$115,000 |
n/a |
|
Compensation defining key employee/officer |
$165,000 |
n/a |
|
Defined benefit plan limit on annual benefits |
$200,000 |
n/a |
|
Defined contribution plan limit on annual additions |
$50,000 |
n/a |
|
Maximum compensation limit for allocation and accrual purposes |
$250,000 |
n/a |
|
Traditional and Roth IRA contributions |
$5,000 |
$1,000 |
*2011 amount for use in 2012 plan year tests.
NOTE: Phase out limits apply on Traditional IRA contributions deductibility. There is an AGI-based limitation for determining the maximum Roth IRA contribution.
PLEASE CONSULT YOUR TAX ADVISOR BEFORE INVESTING.
