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Did
You Know ? |
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| Due to Federal budgetary cuts, the Social Security Administration no longer provides taxpayers with an annual statement of benefits. However, you can use the following link to access a Retirement Estimator provided by the Social Security Administration online. |
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IRS
Releases Cost-of-Living Dollar Limits for the Tax Year 2012. |
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| Item: |
2012
Limitation |
| 401(k)
deferral limit: |
$17,000 |
| 401(k)
catch up contribution (age 50 and older): |
$5,500 |
| Annual
compensation limit: |
$250,000 |
| Defined
Benefit 415 limit: |
$200,000 |
| Defined
Contribution limit: |
$50,000 |
| Annual compensation for Highly Compensated: |
$115,000 |
| IRA Contribution limit |
$5,000 |
| 403(b) Elective Salary Deferral Limit: |
$17,000 |
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| Social
Security Taxable Wage Base: |
$110,100 |
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