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| Retirement Plan Limits | ||||
|
IRS Limits on Benefits and Compensation |
||||
| 2002 | 2001 | 2000 | ||
| Qualified
plan Compensation Limit |
$200,000 | $170,000 | $170,000 | |
| 401(k)
plan/403(b) plan Maximum elective deferral |
$11,000 | $10,500 | $10,500 | |
| SIMPLE
plan Maximum elective deferral |
$7,000 | $6,500 | $6,000 | |
| Defined
contribution Annual additions limit |
$40,000 | $35,000 | $30,000 | |
| Defined
benefit Annual benefit limit |
$160,000 | $140,000 | $135,000 | |
| 457
plan Dollar limitation |
$11,000 | $8,500 | $8,000 | |
| Highly compensated definition | ||||
|
$90,000 | $85,000 | $85,000 | |
| Social Security | ||||
|
$84,900 | $80,400 | $76,200 | |
| Employer and employee payroll tax | ||||
|
6.20% | 6.20% | 6.20% | |
|
1.45% | 1.45% | 1.45% | |