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  330 North Wabash Ave.
  Suite 1700
  Chicago, Illinois 60611
 
312.755.3145

  awilliams@agdglaw.com 

 

 

 

RETIREMENT PLAN LIMITS FOR 2006

The annual defined contribution benefit limit increases from $42,000 to $44,000, and the annual compensation limit increases from $210,000 to $220,000 for 2006.  The annual per participant limit on 401(k), 403(b) and 457 plan contributions increases from $14,000 to $15,000, and the maximum "catch-up" contributions for individuals age 50 and over increases from $4,000 to $5,000.  The limitation for the definition of "highly compensated employee" increases from $95,000 in annual compensation to $100,000, and the annual compensation threshold for key employees increases to $140,000 from $135,000.  The limit on the annual benefit payable under a defined benefit plan increases from $170,000 to $175,000.

Andrew S. Williams
Aronberg Goldgehn Davis & Garmisa
330 North Wabash Ave
Suite 1700
Chicago, Illinois 60611
312/755-3145
awilliams@agdglaw.com

 

   
Copyright © 2009 Andrew S. Williams. All rights reserved.