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RETIREMENT PLAN LIMITS FOR 2010The word for 2010 benefit limits is “unchanged.” The annual defined contribution benefit limit remains unchanged at $49,000, and the annual compensation limit stays at $245,000 for 2010. The annual per participant limit on 401(k), 403(b) and 457(b) elective contributions remains at $16,500, and the maximum annual “catch-up” contribution for individuals age 50 and over will still be $5,500. The compensation limitation for the definition of “highly compensated employee” continues to be $110,000, and the annual compensation threshold for key employees holds at $160,000. The limit on the annual benefit payable under a defined benefit plan stays at $195,000. Get the idea?
Andrew
S. Williams
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