|
|
|
||||||||||||||||||||||||||||
|
Type
of Limitation
|
2003
|
2002
|
2001
|
2000
|
 |
||||
| Elective Deferrals (401(k), 403(b), etc.; not including adjustments and catch-ups) |
$11,000.00
|
$11,000.00
|
$10,500.00
|
$10,000.00
|
| Catch-Up Contribution Limit |
$1,000.00
|
$1,000.00
|
N/A
|
N/A
|
| Defined Benefit Plans |
$160,000.00
|
$160,000.00
|
$135,000.00
|
$130,000.00
|
| Defined Contribution Plans |
$40,000.00
|
$40,000.00
|
$30,000.00
|
$30,000.00
|
| Annual Compensation Limit |
$200,000.00
|
$200,000.00
|
$170,000.00
|
$160,000.00
|
| Annual Compensation Limit for Grandfathered Participants in Governmental Plans Which Followed 401(a)(17) Limits (With Indexing) on July 1, 1993 |
$295,000.00
|
$295,000.00
|
$275,000.00
|
$270,000.00
|
| 457(b)(2) and 457(c)(1) Limits (not including catch-ups) |
$11,000.00
|
$11,000.00
|
$8,000.00
|
$8,000.00
|
| Highly Compensated ($80,000 index) |
$90,000.00
|
$90,000.00
|
$85,000.00
|
$80,000.00
|
| SIMPLE Retirement Accounts |
$7,000.00
|
$7,000.00
|
$6,000.00
|
$6,000.00
|
| SEP Coverage |
$450.00
|
$450.00
|
$450.00
|
$400.00
|
| SEP Compensation |
$200,000.00
|
$200,000.00
|
$170,000.00
|
$160,000.00
|
| Tax Credit ESOP Maximum Balance |
$800,000.00
|
$800,000.00
|
$755,000.00
|
$735,000.00
|
| Amount for Lengthening of 5-Year ESOP Period |
$160,000.00
|
$160,000.00
|
$150,000.00
|
$145,000.00
|
| Income Subject to Social Security Tax |
$84,900.00
|
$84,900.00
|
$76,200.00
|
$72,600.00
|
| FICA Tax for employees and employers |
7.65%
|
7.65%
|
7.65%
|
7.65%
|
| Social Security Tax for employees and employers |
6.2%
|
6.2%
|
6.2%
|
6.2%
|
| Medicare Tax for employees and employers |
1.45%
|
1.45%
|
1.45%
|
1.45%
|
| FICA Tax for self-employed workers |
15.3%
|
15.3%
|
15.3%
|
15.3%
|
| Social Security Tax for self-employed workers |
12.4%
|
12.4%
|
12.4%
|
12.4%
|
| Medicare Tax for self-employed workers |
2.9%
|
2.9%
|
2.9%
|
2.9%
|
