{"id":1931,"date":"2009-10-20T09:26:02","date_gmt":"2009-10-20T13:26:02","guid":{"rendered":"https:\/\/old.visionpayroll.com\/kb\/?p=1931"},"modified":"2010-10-08T14:22:13","modified_gmt":"2010-10-08T18:22:13","slug":"irs-announces-2010-retirement-plan-contribution-and-compensation-limitations","status":"publish","type":"post","link":"https:\/\/old.visionpayroll.com\/kb\/2009\/10\/irs-announces-2010-retirement-plan-contribution-and-compensation-limitations\/","title":{"rendered":"IRS Announces 2010 Retirement Plan Contribution and Compensation Limitations"},"content":{"rendered":"<p>In <a href=\"https:\/\/old.visionpayroll.com\/kb\/wp-content\/uploads\/2009\/10\/ir-2009-094.pdf\" target=\"_blank\">IR-2009-094<\/a>, the Internal Revenue Service (IRS) announced that for 2010 the compensation limitation will remain at $245,000 under <a href=\"http:\/\/frwebgate.access.gpo.gov\/cgi-bin\/getdoc.cgi?dbname=browse_usc&amp;docid=Cite:+26USC401\" target=\"_blank\">\u00a7401(a)(17)<\/a>, <a href=\"http:\/\/frwebgate.access.gpo.gov\/cgi-bin\/getdoc.cgi?dbname=browse_usc&amp;docid=Cite:+26USC404\" target=\"_blank\">\u00a7404(l)<\/a>, <a href=\"http:\/\/frwebgate.access.gpo.gov\/cgi-bin\/getdoc.cgi?dbname=browse_usc&amp;docid=Cite:+26USC408\" target=\"_blank\">\u00a7408(k)(3)(C)<\/a>, and <a href=\"http:\/\/frwebgate.access.gpo.gov\/cgi-bin\/getdoc.cgi?dbname=browse_usc&amp;docid=Cite:+26USC408\" target=\"_blank\">\u00a7408(k)(6)(D)(ii)<\/a> of the Internal Revenue Code of 1986 (IRC). The contribution limit under <a href=\"http:\/\/frwebgate.access.gpo.gov\/cgi-bin\/getdoc.cgi?dbname=browse_usc&amp;docid=Cite:+26USC415\" target=\"_blank\">IRC \u00a7415(c)(1)(A)<\/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 <a href=\"mailto:info@visionpayroll.com\" target=\"_blank\">Vision Payroll<\/a> if you have questions on changes to the 2010 Retirement Plan Contribution and Compensation Limitations or get further information at <a href=\"https:\/\/old.visionpayroll.com\/kb\/important-facts-and-figures\/\" target=\"_blank\">Important Facts and Figures<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In IR-2009-094, the Internal Revenue Service (IRS) announced that for 2010 the compensation limitation will remain at $245,000 under \u00a7401(a)(17), \u00a7404(l), \u00a7408(k)(3)(C), and \u00a7408(k)(6)(D)(ii) of the Internal Revenue Code of 1986 (IRC). The contribution limit under IRC \u00a7415(c)(1)(A) for defined contribution plans also remained at $49,000. This limit does not include the age 50 and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[451,445,447,448,1379,450,418,443,452,321,1063],"_links":{"self":[{"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/posts\/1931"}],"collection":[{"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/comments?post=1931"}],"version-history":[{"count":5,"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/posts\/1931\/revisions"}],"predecessor-version":[{"id":4159,"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/posts\/1931\/revisions\/4159"}],"wp:attachment":[{"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/media?parent=1931"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/categories?post=1931"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/tags?post=1931"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}