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BENEFIT LIMITS

 

 

BENEFIT LIMITS 2006

2007

2008
401k and 403b elective deferrals $15.000 $15,500 $15.500
Maximum Annual Contribution to an Individual's 
Defined Contribution Account
$44,000 $45,000 $46,000
Deferrals to 457 nonqualified deferred compensation plans $15.000 $15,500 $15.500
Catch-up contributions $5.000 $5,000 $5.000
Annual limit on compensation for determining 
benefits or contributions
$220.000 $225,000 $230.000
Limitation on benefits under a defined benefit plan $175.000 $180,000 $185.000
Highly compensated employee limits $100.000 $100,000 $105.000
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SOCIAL SECURITY 2006 2007 2008
OASDI wage base $94,200 $97,500 $102,000
Hi wage base  No Limit No Limit No Limit
OASDI tax rate 6.2% 6.2% 6.2%
Hi tax rate  1.45% 1.45% 1.45%
Cost-of-living adjustment for benefit payments 4.1% 3.3% 2.3%
 
 

 

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Last modified: May 28,2008