IRS Announces 2009 Retirement Plan and Inflation-Adjusted Benefits

2008 Limits

2009 Limits

401(k)/403(b) Contributions *

$15,500

$16,500

457(b) Limit

$15,500

$16,500

Catch-up Contributions

$5,000

$5,500

Compensation Limit**

$230,000

$245,000

Highly Compensated Employees**

$105,000

$110,000

Key Employee Officer Compensation**

$150,000

$160,000

Maximum Annual Benefit
Defined Benefit Plan**

$185,000

$195,000

Maximum Annual Contribution
Defined Contribution Plan**

$46,000

$49,000

ESOP Limits
Dollar limit for determining lengthening of 5-year period*

$185,000

$195,000

Dollar amount for determining max. amount subject to
5-year distribution*

$935,000

$985,000

Maximum SIMPLE contribution

$10,500

$11,500

FICA Wage Base ***

$102,000

$106,800

Qualified Transportation Fringe Benefits – Code § 132

Monthly limit for transportation in a commuter highway vehicle or transit pass

$115

$120

Monthly limit for qualified parking

$220

$230

Monthly limit for bicycle commuters

N/A

$20

Adoption Assistance Programs

Maximum excludable from employee gross income

$11,650

$12,150

Exclusion phased out with modified gross income (starting at–ending at)

$174,730–214,730

$182,150–222,180

Health Savings Accounts

High deductible health plan (HDHP) – minimum annual deductible

Individual coverage

$1,100

$1,150

Family coverage

$2,200

$2,300

HDHP – maximum out-of-pocket limit

Individual coverage

$5,600

$5,800

Family coverage

$11,200

$11,600

HSA monthly contribution – 1/12 lesser of annual deductible or statutory limit

Self-only coverage limit

$2,900

$3,000

Family coverage limit

$5,800

$5,950

Catch-up contributions (age 55 or older)

$900

$1,000