{"id":4320,"date":"2010-11-01T17:55:06","date_gmt":"2010-11-01T21:55:06","guid":{"rendered":"https:\/\/old.visionpayroll.com\/kb\/?p=4320"},"modified":"2010-11-02T13:45:35","modified_gmt":"2010-11-02T17:45:35","slug":"irs-announces-adjustments-to-simple-plan-limits-for-2011-2","status":"publish","type":"post","link":"https:\/\/old.visionpayroll.com\/kb\/2010\/11\/irs-announces-adjustments-to-simple-plan-limits-for-2011-2\/","title":{"rendered":"IRS Announces Adjustments to SIMPLE Plan Limits for 2011"},"content":{"rendered":"<div class=\"img alignright size-medium wp-image-4335\" style=\"width:200px;\">\r\n\t<a href=\"https:\/\/old.visionpayroll.com\/kb\/wp-content\/uploads\/2010\/11\/Office-Group.jpg\"><img src=\"https:\/\/old.visionpayroll.com\/kb\/wp-content\/uploads\/2010\/11\/Office-Group-200x300.jpg\" alt=\"IRS Announces Adjustments to SIMPLE Plan Limits for 2011\" width=\"200\" height=\"300\" \/><\/a>\r\n\t<div>IRS Announces Adjustments to SIMPLE Plan Limits for 2011<\/div>\r\n<\/div>In <a href=\"https:\/\/old.visionpayroll.com\/kb\/wp-content\/uploads\/2010\/10\/ir-2010-108.pdf\" target=\"_blank\">IR-2010-108<\/a>, the <a href=\"http:\/\/www.irs.gov\/\" target=\"_blank\">Internal Revenue Service (IRS)<\/a> announced cost-of-living adjustments to the limits on SIMPLE plan contributions for 2011. The limitation for SIMPLE plans is codified in <a href=\"http:\/\/frwebgate.access.gpo.gov\/cgi-bin\/getdoc.cgi?dbname=browse_usc&amp;docid=Cite:+26USC408\" target=\"_blank\">\u00a7408(p)(2)(E)<\/a> 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 <a href=\"http:\/\/frwebgate.access.gpo.gov\/cgi-bin\/getdoc.cgi?dbname=browse_usc&amp;docid=Cite:+26USC415\" target=\"_blank\">IRC \u00a7415<\/a> for retirement plans.<\/p>\n<p><strong>2011 Contribution Limits Remains Unchanged<\/strong><\/p>\n<p>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.<\/p>\n<p><strong>Contact Vision Payroll for More Information on 2011 SIMPLE Plan Changes<\/strong><\/p>\n<p>Contact <a href=\"mailto:info@visionpayroll.com\" target=\"_blank\">Vision Payroll<\/a> if you have questions on the SIMPLE plan contribution limits 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>IRS Announces Adjustments to SIMPLE Plan Limits for 2011 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 \u00a7408(p)(2)(E) of the Internal Revenue Code of 1986 (IRC). This section also requires annual adjustments as necessary to keep [&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":[419,1064,420,421,418,417,321,1396,416],"_links":{"self":[{"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/posts\/4320"}],"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=4320"}],"version-history":[{"count":3,"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/posts\/4320\/revisions"}],"predecessor-version":[{"id":4328,"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/posts\/4320\/revisions\/4328"}],"wp:attachment":[{"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/media?parent=4320"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/categories?post=4320"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/tags?post=4320"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}