Type of Limitation

2010

2009

2008

Elective Deferrals 401(k) and 403(b)

(does not include adjustments and catch-ups deferrals)

$ 16,500

$ 16,500

$15,500

457(b)(2) and 457(c)(1) Limits

(does not include catch-up deferrals)

$16,500

$ 16,500

$15,500

Catch-Up Deferrals for 401(k), 403(b), 457(b)

$ 5,500

 $ 5,500

$ 5,000

Defined Benefit Plans

$ 195,000

$ 195,000

$185,000

Defined Contribution Plans

$ 49,000

$ 49,000

$ 46,000

Annual Compensation Limit

$ 245,000

$ 245,000

$ 230,000

Annual Compensation Limit for Grandfathered Participants in Governmental Plans Which Followed 401(a)(17) Limits (With Indexing) on July 1, 1993

$ 360,000

$ 360,000

$ 345,000

Highly Compensated Employee ("HCEs")

$ 110,000

$ 110,000

$ 105,000

Individual Retirement Accounts ("IRAs"), for individuals 49 and below

$ 5,000

$ 5,000

$ 5,000

Individual Retirement Accounts ("IRAs"), for individuals 50 and above

$ 6,000

$ 6,000

$ 6,000

SIMPLE Retirement Accounts

$ 11,500

$ 11,500

$ 10,500

SEP Coverage

$ 550

$ 550

$ 500

SEP Compensation

$245,000

$245,000

$ 230,000

Tax Credit ESOP Maximum Balance

$ 985,000

$ 985,000

$ 935,000

Amount for Lengthening of 5-Year ESOP Period

$ 195,000

$ 195,000

$ 185,000

Income Subject to Social Security Tax

$ 106,800

$ 106,800

$102,000

FICA Tax for employees and employers

7.65%

7.65%

7.65%

Social Security Tax for employees and employers

6.2%

6.2%

6.2%

Medicare Tax for employees and employers

1.45%

1.45%

1.45%

FICA Tax for self-employed workers

15.3%

15.3%

15.3%

Social Security Tax for self-employed workers

12.4%

12.4%

12.4%

Medicare Tax for self-employed workers

2.9%

2.9%

2.9%