Compensation
Limits on benefits and contributions:
• Defined contribution plans
• Defined benefit plans
• 401(k), 403(b) and 457 plan elective deferrals
• SIMPLE plan elective deferrals
• IRA
Catch-up contributions:
• 401(k), 403(b) and 457 plans
• SIMPLE plans
• IRA
"Highly Compensated" definition:
"Key Employee" definition:
• Officer
• 1% owner
Social Security:
• Taxable wage base
• Social Security tax rate
• Medicare tax rate
• Combined tax rate
$245,000
$49,000
$195,000
$16,500
$11,500
$5,000
$5,500
$2,500
$1,000
$110,000
$160,000
$150,000
$106,800
6.20%
1.45%
7.65%
$230,000
$46,000
$185,000
$15,500
$10,500
$5,000
$5,000
$2,500
$1,000
$105,000
$150,000
$150,000
$102,000
6.20%
1.45%
7.65%
$225,000
$45,000
$180,000
$15,500
$10,500
$4,000
$5,000
$2,500
$1,000
$100,000
$145,000
$150,000
$97,500
6.20%
1.45%
7.65%
$220,000
$44,000
$175,000
$15,000
$10,000
$4,000
$5,000
$2,500
$1,000
$100,000
$140,000
$150,000
$94,200
6.20%
1.45%
7.65%