Retirement Plan Contribution and Benefit Limits
This chart lists the maximum amounts individuals are permitted to contribute to their retirement plans each year.
The effective date for 2012 limits is January 1, 2012.
Maximum Dollar Limits
|
2012
|
2011
|
2010
|
2009
|
|
|
Annual employee contribution limit for 401(k), 403(b), or 457 savings plans |
$17,000
|
$16,500
|
$16,500
|
$16,500
|
| Annual catch-up contribution limit for 401(k), 403(b) or 457 savings plans if employee is age 50 or over |
$5,500
|
$5,500
|
$5,500
|
$5,500
|
|
Maximum annual benefit payable by a defined benefit pension plan |
$200,000
|
$195,000
|
$195,000
|
$195,000
|
| Annual limit for combined employer - employee contributions to a defined contribution plan |
$50,000
|
$49,000
|
$49,000
|
$49,000
|
| Annual contribution limit to an Individual Retirement Account for individuals |
$5,000
|
$5,000
|
$5,000
|
$5,000
|
| Annual catch-up contribution limit for Individual Retirement Accounts for individuals age 50 or over |
$1,000
|
$1,000
|
$1,000
|
$1,000
|
| Annual employee contribution for SIMPLE plans |
$11,500
|
$11,500
|
$11,500
|
$11,500
|
| Annual catch-up employee contribution for SIMPLE plans if employee is age 50 and over |
$2,500
|
$2,500
|
$2,500
|
$2,500
|
|
Maximum monthly amount insured by the Pension Benefit Guaranty Corporation for people retiring at age 65. Find out guarantee limits at other ages. |
$4,653
|
$4,500
|
$4,500
|
$4,500
|
| Maximum amount of wages taxable by Social Security |
$110,100
|
$106,800
|
$106,800
|
$106,800
|
Spotlight
Wondering how much you can contribute to your retirement plan this year? Read our helpful fact sheet to find out. The fact sheet also includes contribution limits for previous years. Read the fact sheet.
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Did You Know?
A joint-and-survivor annuity is an annuity that pays a monthly benefit over the lives of the participant and his or her surviving spouse. This is the default form of benefit for married participants in most defined benefit pension plans. Because it lasts for the life of both the worker and the spouse, a joint-and-survivor annuity typically results in a lower monthly benefit payment than a single-life annuity.
