Vision Payroll

In IR-2011-103, the Internal Revenue Service (IRS) announced cost-of-living adjustments to the limits on SIMPLE plan contributions for 2012. The limitation for SIMPLE plans is codified in §408(p)(2)(E) of the Internal Revenue Code of 1986 (IRC). This section also requires annual adjustments as necessary to keep pace with inflation in a manner similar to that required by IRC §415 for retirement plans.

2012 Contribution Limits Remains Unchanged

For 2012, the SIMPLE plan regular limitation remains at $11,500. The age 50 and over catch-up contribution remains at $2,500 for individuals who plan to reach age 50 before the end of 2012.

Contact Vision Payroll for More Information on 2012 SIMPLE Plan Changes

Contact Vision Payroll if you have questions on the SIMPLE plan contribution limits or get further information at Important Facts and Figures.

In IR-2011-103, the Internal Revenue Service (IRS) announced that for 2012 the compensation limitation will increase from $245,000 to $250,000 under §401(a)(17), §404(l), §408(k)(3)(C), and §408(k)(6)(D)(ii) of the Internal Revenue Code of 1986 (IRC).

2012 Contribution Limit Also Increases

The contribution limit under IRC §415(c)(1)(A) for defined contribution plans will increase from $49,000 to $50,000. This limit does not include the age 50 and over catch-up contribution of $5,500 when applicable; therefore the total limitation for eligible taxpayers age 50 or over in qualifying plans will be $55,500.

Contact Vision Payroll for More Information on 2012 Retirement Plan Changes

Contact Vision Payroll if you have questions on changes to the 2012 Retirement Plan Contribution and Compensation Limitations or get further information at Important Facts and Figures.

In IR-2010-108, the Internal Revenue Service (IRS) announced cost-of-living adjustments to the limits on SIMPLE plan contributions for 2011. The limitation for SIMPLE plans is codified in §408(p)(2)(E) of the Internal Revenue Code of 1986 (IRC). This section also requires annual adjustments as necessary to keep pace with inflation in a manner similar to that required by IRC §415 for retirement plans.

2011 Contribution Limits Remains Unchanged

Because the cost-of-living index in 2010 is lower than it was in 2008, there will be no increases to the amounts. For 2011, the SIMPLE plan regular limitation remains at $11,500. The age 50 and over catch-up contribution remains at $2,500 for individuals who plan to reach age 50 before the end of 2011.

Contact Vision Payroll for More Information on 2011 SIMPLE Plan Changes

Contact Vision Payroll if you have questions on the SIMPLE plan contribution limits or get further information at Important Facts and Figures.

In IR-2010-108, the Internal Revenue Service (IRS) announced the limits on deferral contributions for 2011 under §401(k), §403(b), and §457(e)(15). These limitations are codified in those sections of the Internal Revenue Code of 1986 (IRC). Under IRC §415, the Commissioner of the IRS is required to adjust the plan limitations to keep pace with inflation.

2011 Contribution Limits Remains Unchanged

For 2011, the deferral contribution limitation will remain at $16,500. The age 50 and over catch-up contribution will remain at $5,500 for 2011 for individuals who plan to reach age 50 before the end of 2011.

Contact Vision Payroll for More Information on 2011 Retirement Plan Changes

Contact Vision Payroll if you have questions on changes to the 2011 Retirement Plan Contribution and Compensation Limitations or get further information at Important Facts and Figures.

In IR-2010-108, the Internal Revenue Service (IRS) announced that for 2011 the compensation limitation will remain at $245,000 under §401(a)(17), §404(l), §408(k)(3)(C), and §408(k)(6)(D)(ii) of the Internal Revenue Code of 1986 (IRC).

2011 Contribution Limit Also Remains Unchanged

The contribution limit under IRC §415(c)(1)(A) for defined contribution plans will remain at $49,000. This limit does not include the age 50 and over catch-up contribution of $5,500 when applicable; therefore the total limitation for eligible taxpayers age 50 or over in qualifying plans will be $54,500.

Contact Vision Payroll for More Information on 2011 Retirement Plan Changes

Contact Vision Payroll if you have questions on changes to the 2011 Retirement Plan Contribution and Compensation Limitations or get further information at Important Facts and Figures.

In IR-2009-094, the Internal Revenue Service (IRS) announced that for 2010 the compensation limitation will remain at $245,000 under §401(a)(17), §404(l), §408(k)(3)(C), and §408(k)(6)(D)(ii) of the Internal Revenue Code of 1986 (IRC). The contribution limit under IRC §415(c)(1)(A) for defined contribution plans also remained at $49,000. This limit does not include the age 50 and over catch-up contribution of $5,500 when applicable; therefore the total limitation for eligible taxpayers age 50 or over in qualifying plans is $54,500. Contact Vision Payroll if you have questions on changes to the 2010 Retirement Plan Contribution and Compensation Limitations or get further information at Important Facts and Figures.

In IR-2009-094, the Internal Revenue Service (IRS) announced cost-of-living adjustments to the limits on SIMPLE plan contributions for 2010. The limitation for SIMPLE plans is codified in §408(p)(2)(E) of the Internal Revenue Code of 1986 (IRC). This section also requires annual adjustments as necessary to keep pace with inflation in a manner similar to that required by IRC §415 for retirement plans. Because the cost-of-living index in 2009 is lower than in 2008, there will be no increases to the amounts. For 2010, the SIMPLE plan regular limitation remains at $11,500. The age 50 and over catch-up contribution remains at $2,500 for individuals who plan to reach age 50 before the end of 2010. Contact Vision Payroll if you have questions on the SIMPLE plan contribution limits or get further information at Important Facts and Figures.

In IR-2008-118, the Internal Revenue Service (IRS) announced an increase for 2009 in the compensation limitation from $230,000 to $245,000 under §401(a)(17), §404(l), §408(k)(3)(C), and §408(k)(6)(D)(ii) of the Internal Revenue Code of 1986 (IRC). The contribution limit under IRC §415(c)(1)(A) for defined contribution plans also increased from $46,000 to $49,000. This limit does not include the age 50 and over catch-up contribution when applicable, thereby increasing the total limitation for eligible taxpayers in qualifying plans from $51,000 to $54,500. Contact Vision Payroll if you have questions on changes to the 2009 Retirement Plan Contribution and Compensation Limitations.

In IR-2008-118, the Internal Revenue Service (IRS) announced increases to the limits on deferral contributions for 2009 under §401(k), §403(b), and §457(e)(15). These limitations are codified in those sections of the Internal Revenue Code of 1986 (IRC). Under IRC §415, the Commissioner of the IRS is required to adjust the plan limitations to keep pace with inflation. For 2009, the deferral contribution limitation will increase from $15,500 for 2008 to $16,500 for 2009. The age 50 and over catch-up contribution will also increase from $5,000 for 2008 to $5,500 for 2009 for individuals who plan to reach age 50 before the end of 2009. Contact Vision Payroll if you have questions on changes to these deferral contribution limits.

In IR-2008-118, the Internal Revenue Service (IRS) announced increases to the limits on SIMPLE plan contributions for 2009. The limitation for SIMPLE plans is codified in §408(p)(2)(E) of the Internal Revenue Code of 1986 (IRC). This section also requires annual adjustments as necessary to keep pace with inflation in a manner similar to that required by IRC §415 for retirement plans. For 2009, the SIMPLE plan regular limitation will increase from $10,500 for 2008 to $11,500 for 2009. The age 50 and over catch-up contribution remains at $2,500 for individuals who plan to reach age 50 before the end of 2009. Contact Vision Payroll if you have questions on changes to the SIMPLE plan contribution limits.