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| Retirement Plan and IRA Limits | ||||
| Description | Code Sec. | 2012 | 2011 | 2010 |
| Maximum contribution for defined benefit plan |
415(b)(1)(A) | $200,000 | $195,000 | $195,000 |
| Maximum contribution for defined contribution plan |
415(c)(1)(A) | $50,000 | $49,000 | $49,000 |
| Maximum 401(k) deferral | 402(g)(1) | $17,000 | $16,500 | $16,500 |
| SIMPLE plan deferral |
408(p)(2)(E) | $11,500 | $11,500 | $10,500 |
| Elective deferral catch-up contributions for age 50 or older |
414(v)(2)(B)(i) | $5,500 | $5,500 | $5,000 |
| Catch-up contributions for age 50 or older for SIMPLE plans |
414(v)(2)(B)(ii) | $2,500 | $2,500 | $2,500 |
| Annual compensation limit |
401(a)(17) and 404(l) | $250,000 | $245,000 | $245,000 |
| Social Security Taxable Wage Base |
$110,100 | $106,800 | $106,800 | |
Standard Deduction: Married - |
$11,900 $8,700 $5,950 |
$11,400 $8,350 $5,700 |
$11,400 $8,400 $5,700 |
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