Plan Limitations |
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Select Plan Year: 2008
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| ALL PLAN COMPENSATION LIMITS: |
AMOUNT |
| MAXIMUM COMPENSATION LIMIT |
$230,000 |
| SEP ANNUAL COMPENSATION FLOOR |
$500 |
| HIGHLY COMPENSATED EMPLOYEE: |
AMOUNT |
| ANY EMPLOYEE LIMITATION ** |
$105,000 |
| INDIVIDUAL/EMPLOYER SOCIAL SECURITY TAX: |
AMOUNT |
| SOCIAL SECURITY CONTRIB. RATE |
6.20% |
| MEDICARE CONTRIBUTION RATE |
1.45% |
| KEY "TOP HEAVY" EMPLOYEES: |
AMOUNT |
| OFFICER COMENSATION |
$150,000 |
| 10 LARGEST OWNERS |
N/A |
| 1% OWNER |
$150,000 |
| QUALIFIED PLAN LIMITS: |
AMOUNT |
| 401(k),493(b), SARSEP |
$15,500 |
| MAXIMUM DEFERRAL (402(g)) |
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| 457 deferral limit |
$15,500 |
| CATCH-UP FOR 401(k),403(b), |
$5,000 |
| SARSEP, and 457 |
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| SIMPLE DEFERRAL LIMIT |
$10,500 |
| CATCH-UP FOR SIMPLE PLAN |
$2,500 |
| DEFINED BENEFIT LIMITATION AT SOCIAL SECURITY NORMAL RETIREMENT DATE |
$185,000 |
| DEFINED CONTRIBUTION * |
$46,000 |
| SELF-EMPLOYMENT TAX: |
AMOUNT |
| SELF-EMPLOYMENT CONTRIBUTION RATE |
12.40% |
| MEDICARE CONTRIBUTION RATE *** |
2.90% |
| SOCIAL SECURITY COVERED COMP. LIMITS: |
AMOUNT |
| SOCIAL SECURITY WAGE BASE LIMIT |
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| MEDICARE |
No limit |
PLEASE NOTE:
* Not including catch up provisions
** Subject to Top Paid Election
*** All compensation counted
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