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Nov 2008
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November 25, 2008

Key IRS Benefit Plan Limits For 2009

The IRS recently released its 2009 employee benefits limitations for retirement plans. Earlier this year the IRS issued the 2009 HSA/HDHP adjustments. The following chart lists common limitations relevant for many employers.

Limitation

 

2009

 

2008

Retirement Plans

Qualified Retirement Plans
     -annual compensation limit

       

$245,000

       

$230,000

Defined Benefit Plans
     -annual benefit limit

       

$195,000

       

$185,000

Defined Contribution Plans
     -annual additions limit 

       

$49,000

       

$46,000

Catch-up Contribution Limit

       

$5,500

       

$5,000

Highly Compensated Employee

       

$110,000

       

$105,000

Annual Deferral Limits
     -401(k), 403(b), 457(b)
     -SIMPLE plan

 

$16,500
$11,500

       

$15,500
$10,500

Social Security

Social Security Wage Base

       

$106,800

 

$102,000

HSA/HDHP

Annual minimum deductible
    -Single
    -Family

       

$1,150
$2,300

       

$1,100
$2,200

Annual out-of-pocket maximum
    -Single
    -Family

       

$5,800
$11,600

       

$5,600
$11,200

Annual contribution limit
    -Single
    -Family

       

$3,000
$5,950

       

$2,900
$5,800

Catch-Up Contribution Limit
    -Single

       

$1,000

       

$900

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