Publish Date:
October 21, 2011
The Internal Revenue Service has released the 2012 cost-of-living adjustments for compensation and benefit limits related to retirement plans. The following chart summarizes 2012 retirement plan limits and other benefit plan limits. These limits are adjusted as often as every year to account for increases in the cost of living, or as established by statute. By statute, several of these numbers may not be reduced. Many of the amounts have increased from the 2011 limits. The 2011 limits are also listed for reference purposes.
| 2011 | 2012 |
Elective Deferral Limit 401(k), 403(b), 457(b) | $16,500 | $17,000 |
Catch-up Limit (age 50+) | $5,500 | $5,500 |
Defined Benefit Limit | $195,000 | $200,000 |
Defined Contribution Limit | $49,000 | $50,000 |
Dollar Limit for Highly Compensated Employees | $110,000 | $115,000 |
Officer-Key Employee | $160,000 | $165,000 |
Annual Compensation Limit | $245,000 | $250,000 |
SEP Eligibility Compensation Limit | $550 | $550 |
SIMPLE Deferral Limit | $11,500 | $11,500 |
SIMPLE Catch-up Limit (age 50+) | $2,500 | $2,500 |
Social Security Taxable Wage Base | $106,800 | $110,000 |
ESOP 5-Year Distribution Extension Account minimum Additional amount for 1-year extension |
$985,000 $195,000 |
$1,015,000 $200,000 |
HSA (self/family) Maximum Contributions Minimum HDHP Deductible Maximum Out-of-Pocket Expenses
|
$3,050/$6,150 $1,200/$2,400 $5,950/$11,900 |
$3,100/$6,250 $1,200/$2,400 $6,050/$12,100 |