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Date: October 20, 2009
GSB Client Update

Garvey Schubert Barer Legal Update, October 20, 2009.

The limits remain unchanged from 2009 and are outlined as follows:

Limitation 2009 and 2010
Voluntary employee contributions limit: 401(k), 403(b) and 457(b) plans $16,500
Age 50 catch-up limit: 401(k), 403(b) and governmental 457(b) plans $5,500
SIMPLE plan deferral limit $11,500
SIMPLE catch-up limit $2,500
Defined contribution plan annual contribution limit $49,000
Defined benefit plan annual benefit limit $195,000
Cap on includible compensation for plan purposes $245,000
Highly compensated employee threshold $110,000
Top-heavy key employee/officer compensation threshold $160,000
Social Security taxable wage base $106,800
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