Plan Limits for 2010
401(k)/403(b) plan elective deferrals. The maximum deferral amount for employees who have not reached age 50 is $16,500. Employees age 50 or older may contribute an additional $5,500 if the plan so provides, for a total contribution of $22,000.
SIMPLE plan deferrals. The maximum deferral amount is $11,500 ($14,000 if the employee is at least age 50).
Plan aggregate limit. The maximum amount that be added to a 401(k), profit sharing, or other defined contribution plan account is $49,000; the employee and employer contributions are combined for this annual limit.
Compensation limit. The maximum amount of employee compensation that may be considered when computing qualified plan benefits or contributions is $245,000.
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