| | 2005 | 2004 | 2003 |
|---|
| | $ | $ | $ |
|---|
| Compensation Limit [IRC Sec. 401(a)(17)] |
210,000 |
205,000 |
200,000
| | Defined Benefit Plan Annual Benefit Limit |
170,000 |
165,000 |
160,000
| | Defined Contribution Plan Annual Contribution Limit |
42,000 |
41,000 |
40,000
|
| 401(k), 403(b), and SARSEPs |
| Annual Defferal Limitb |
14,000 |
13,000 |
12,000
| | Catch-up Contributionc |
4,000 |
3,000 |
2,000
|
| 457 Plan |
| Annual Deferral Limit |
14,000 |
13,000 |
12,000
| | Catch-up Contribution c |
4,000 |
3,000 |
2,000
|
| SIMPLE Plan |
| Annual Deferral Limit |
10,000 |
9,000 |
8,000
| | Catch-up Contributionc |
2,000 |
1,500 |
1,000
|
| IRA |
| Annual Deferral Limit |
4,000 |
3,000 |
3,000
| | Catch-up Contriubtion |
500 |
500 |
500
| | Highly Compensated Employee Compensation Threshold |
95,000 |
90,000 |
90,000
| | Key Employee Officer Compensation Threshold |
135,000 |
130,000 |
130,000
| | SEP Compensation Threshold |
450 |
450 |
450
|
| Traditional IRA Deduction Phaseout AGI |
| Joint Return |
70,000/80,000 |
65,000/75,000 |
60,000/70,000
| | Single, Head of Household (HOH) |
50,000/60,000 |
45,000/55,000 |
40,000/50,000
| | Married Filing Separately (MFS) |
0/10,000 |
0/10,000 |
0/10,000
| | Excludible Long-term Care Per Diem |
240 |
230 |
220
|
| Eligible long-term Care Premiums |
| Age 40 and under |
270 |
260 |
250
|
| Age 41-50 |
510 |
490 |
470
| | Age 51-60 |
1,020 |
980 |
940
| | Age 61-70 |
2,720 |
2,600 |
2,510
| | Over age 70 |
3,400 |
3,250 |
3,130
|
| Medical Saving Accounts (MSAs) |
| Self Coverage Only |
| Deductible Not Less Than |
1,750 |
1,700 |
1,700
|
| And Not More Than |
2,650 |
2,600 |
2,500
| | Out-of-pocket Expenses Do Not Exceed |
3,500 |
3,450 |
3,350
|
| Family Coverage |
| Deductible Not Less Than |
3,500 |
3,450 |
3,350
| | And Not More Than |
5,250 |
5,150 |
5,050
| | Out-of-pocket Expenses Do Not Exceed |
6,450 |
6,300 |
6,150
|
| Health Savings Accounts (HSAs) |
| Minimum Deductible |
| Self-coverage |
1,000 |
1,000 |
N/A
| | Family Coverage |
2,000 |
2,000 |
N/A
|
| Maximum Deductible |
| Self-coverage |
2,650 |
2,600 |
N/A
| | Family Coverage |
5,250 |
5,150 |
N/A
| | Catch-up Contribution |
600 |
500 |
N/A
|
| Out of Pocket Limit |
| Self-coverage |
5,100 |
5,000 |
N/A
| | Family Coverage |
10,200 |
10,000 |
N/A
| | Social Security Tax Wage Base |
90,000 |
87,900 |
87,000
|
| Roth IRA Contribution Eligibility AGI |
| Joint Return |
150,000/160,000 |
150,000/160,000 |
150,000/160,000
| | Single, HOH |
95,000/110,000 |
95,000/110,000 |
95,000/110,000
| | MFS |
0/10,000 |
0/10,000 |
0/10,000
|
| Eligibility for Rollover to Roth IRA AGI |
| Joint Return, Single, HOH |
100,000 |
100,000 |
100,000
| | MFS |
not allowed |
not allowed |
not allowed
|
| Eligibility for Coverdell Saving Accounts
(formerly Education IRAs) AGI |
| Joint Return |
190,000/220,000 |
190,000/220,000 |
190,000/220,000
| | Single, HOH |
95,000/110,000 |
95,000/110,000 |
95,000/110,000
| | MFS |
95,000/110,000 |
95,000/110,000 |
95,000/110,000
| | Control Employee Compensation Limit |
85,000 and 170,000 |
80,000 and 165,000 |
80,000 and 160,000 |
| |
- Inflation-adjusted amounts are announced annually.
- This applies to the total of all elective deferrals an individual makes for the year to 401(k) plans, 403(b) plans, SARSEPs, and SIMPLE plans. However, deferrals to each SIMPLE plan in which the individual participates are also limited, as shown later in the table.
- Catch-up contributions are available each year to individuals who reach age 50 by the end of the year.
- For HSAs, catch up contributions are available each year to individuals 55 or older.
|
|
