The IRS recently announced cost-of-living adjustments for retirement plans in 2013. Here are some of the key limits.
Plan provision: Maximum annual dollar benefit for a defined benefit plan
Limit for 2012: $200,000
Limit for 2013: $205,000
Plan provision: Maximum dollar limit on additions to a defined contribution plan
Limit for 2012: $50,000
Limit for 2013: $51,000
Plan provision: Maximum amount of compensation take into account for qualified retirement plans
Limit for 2012: $250,000
Limit for 2013: $255,000
Plan provision: Dollar limit for definition of "key employee" in top-heavy retirement plan
Limit for 2012: $165,000
Limit for 2013: $165,000
Plan provision: Dollar limit for definition of highly compensated employee in qualified plan
Limit for 2012: $115,000
Limit for 2013: $115,000
Plan provision: Dollar limit for elective deferrals to a 401(k) plan
Limit for 2012: $17,000
Limit for 2013: $17,500
Plan provision: Dollar limit for catch-up contributions to a 401(k) plan
Limit for 2012: $5,500
Limit for 2013: $5,500
Like what you've read? ...Republish it and share great business tips!
Attention: Readers, Publishers, Editors, Bloggers, Media, Webmasters and more...
We believe great content should be read and passed around. After all, knowledge IS power. And good business can become great with the right information at their fingertips. If you'd like to share any of the insightful articles on BusinessManagementDaily.com, you may republish or syndicate it without charge.
The only thing we ask is that you keep the article exactly as it was written and formatted. You also need to include an attribution statement and link to the article.
" This information is proudly provided by Business Management Daily.com: http://www.businessmanagementdaily.com/34379/key-retirement-plan-limits-in-2013 "
{ 2 comments… read them below or add one }