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Summary of Retirement Benefit Links
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2002
|
2003
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2004
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2005
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2006
|
2007 |
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401 (k) dollar limit
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$11,000
|
$12,000
|
$13,000
|
$14,000
|
$15,000
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$15,500 |
|
403(b) dollar limit
|
11,000
|
12,000
|
13,000
|
14,000
|
15,000
|
15,500 |
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401 (k) “Catch-up” over age 50
|
|
2,000
|
3,000
|
4,000
|
5,000
|
5,000 |
|
SIMPLE dollar limit
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7,000
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8,000
|
9,000
|
10,000
|
10,000
|
10,500 |
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SIMPLE “Catch-up” over age 50
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|
1,000
|
1,500
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2,000
|
2,500
|
2,500 |
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Defined benefit limit
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160,000
|
160,000
|
165,000
|
170,000
|
175,000
|
180,000 |
|
Defined contribution limit
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40,000
|
40,000
|
41,000
|
42,000
|
44,000
|
45,000 |
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Highly compensated thresholds
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(Highly compensated)
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90,000
|
90,000
|
90,000
|
95,000
|
100,000
|
100,000 |
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Compensation limits
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General
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200,000
|
200,000
|
205,000
|
210,000
|
220,000
|
225,000 |
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Social Security withholding
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|
|
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|
|
|
(OASDI wage base)
|
84,900
|
87,000
|
87,900
|
90,000
|
94,200
|
97,500 |
|
(OASDI rate)
|
6.20%
|
6.20%
|
6.20%
|
6.20%
|
6.20%
|
6.20% |
|
(Medicare wage base)
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Unlimited
|
Unlimited
|
Unlimited
|
Unlimited
|
Unlimited
|
Unlimited |
|
(Medicare rate)
|
1.45%
|
1.45%
|
1.45%
|
1.45%
|
1.45%
|
1.45% |
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