| |
| Compensation |
$360,000 |
$350,000 |
$345,000 |
$330,000 |
$305,000 |
| Limits on benefits and contributions: |
| |
Defined contribution plans |
$72,000 |
$70,000 |
$69,000 |
$66,000 |
$61,000 |
| |
Defined benefit plans |
$290,000 |
$280,000 |
$275,000 |
$265,000 |
$245,000 |
| |
401(k), 403(b) and 457 plan elective deferrals |
$24,500 |
$23,500 |
$23,000 |
$22,500 |
$20,000 |
| |
SIMPLE plan elective deferrals |
$17,000 |
$16,500 |
$16,000 |
$15,500 |
$14,000 |
| |
IRA |
$7,500 |
$7,000 |
$7,000 |
$6,500 |
$6,000 |
| Catch-up contributions: |
| |
401(k), 403(b) and 457 plans |
$8,000 |
$7,500 |
$7,500 |
$7,500 |
$6,500 |
| |
SIMPLE plans |
$4,000 |
$3,500 |
$3,500 |
$3,500 |
$3,000 |
| |
IRA |
$1,100 |
$1,000 |
$1,000 |
$1,000 |
$1,000 |
| "Highly Compensated" definition |
$160,000 |
$160,000 |
$155,000 |
$150,000 |
$135,000 |
| "Key Employee" definition: |
| |
Officer |
$235,000 |
$230,000 |
$220,000 |
$215,000 |
$200,000 |
| |
1% owner |
$150,000 |
$150,000 |
$150,000 |
$150,000 |
$150,000 |
| Social Security: |
| |
Taxable wage base |
$184,500 |
$176,100 |
$168,600 |
$160,200 |
$147,000 |
| |
Social Security tax rate |
6.20% |
6.20% |
6.20% |
6.20% |
6.20% |
| |
Medicare tax rate |
1.45% |
1.45% |
1.45% |
1.45% |
1.45% |
| |
Combined tax rate |
7.65% |
7.65% |
7.65% |
7.65% |
7.65% |
|
North American Pension Services, LLC
2542 South Rochester Road
Rochester Hills, MI 48307-3817 USA
Phone: (248) 723-4220
Fax: (248) 723-4224
Copyright 1999-2025 North American Pensions Services, LLC
All Rights Reserved. |
| 
North American
Pension Services, LLC
2542 South Rochester Road Rochester Hills, MI 48307-3817 USA Phone: (248) 723-4220 Fax: (248) 723-4224 [email protected] |
