2008 2009 Inflation Adjustments

2008 2009 Inflation Adjustments - 2008 & 2009 FIGURES...

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Unformatted text preview: 2008 & 2009 FIGURES RETIREMENT Defined Benefit Maximum Limit Defined Contribution Plan Maximum Limit: • Dollars • Percentage - EmployEE’s Compensation SEP Max Limit: • Dollars • Percentage - EmployEE’s Compensation SEP Earnings Eligibility - 408(k)(2)(c) 401(k), SARSEP, 457, 403(b) Employee Deferral Limit IRA Contribution Limit SIMPLE Employee Deferral Limit Catch-Up Provision (age 50 and older): • IRA Catch-up Contribution • 401(k), SARSEP, 457, 403(b) • SIMPLE HC Employee – 414(q) Key Employee – 416(i) Covered Compensation for Qualified Plans Traditional IRA Contribution Phaseouts: • MFJ - One spouse is active participant (in 1,000s) • MFJ - Taxpayer is active participant (in 1,000s) • Single - Taxpayer is active participant (in 1,000s) • MFS (in 1,000s) Roth IRA Contribution Phaseouts: • MFJ (in 1,000s) • Single (in 1,000s) • MFS (in 1,000s) Converting Traditional IRA to Roth IRA Maximum MAGI: • Single, HH, MFJ • MFS FRINGE BENEFITS Qualified Parking Exclusion Transit Pass Exclusion Adoption Assistance Adoption Assistance AGI Phaseout SOCIAL SECURITY Maximum Earnings Taxable One Quarter of Coverage (up to 4 per year) Retirement Earnings Limit: • Under full retirement age • Year reaching full retirement age Social Security Disability Thresholds: • Maximum Earnings - Blind (monthly) • Maximum Earnings - Nonblind (monthly) Maximum Monthly Social Security Benefit PBGC Limit (monthly) 2008 $185,000 $46,000 100% $46,000 25% $500 $15,500 $5,000 $10,500 $1,000 $5,000 $2,500 $105,000 $150,000 $230,000 $159 - $169 $85 - $105 $53 - $63 $0 - $10 $159 - $169 $101 - $116 $0 - $10 $100,000 Disallowed 2008 $220 $115 $11,650 $174,730 - $214,730 2008 $102,000 $1,050 $13,560 $36,120 $1,570 $940 $2,185 $4,312.50 2009 $195,000 $49,000 100% $49,000 25% $550 $16,500 $5,000 $11,500 $1,000 $5,500 $2,500 $110,000 $160,000 $245,000 $166 - $176 $89 - $109 $55 - $65 $0 - $10 $166 - $176 $105 - $120 $0 - $10 $100,000 Disallowed 2009 $230 $120 $12,150 $182,180 - $222,180 2009 $106,800 $1,090 $14,160 $37,680 $1,640 $980 $2,323 $4,500 Money Education www.money-education.com 888-295-6023 ...
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This note was uploaded on 05/02/2010 for the course ACCT 400 taught by Professor M during the Spring '10 term at William & Mary.

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