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
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