IRS Pension Plan Limits for 2009 Limitations for 2010

Submitted by vinny on Thu, 10/15/2009 - 20:15.
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IRS officially announced cost of living adjustments applicable to dollar limitations for pension plans and other items for Tax Year 2010. IRS provides for dollar limitations on benefits and contributions under qualified retirement plans. Lets check IRS Pension Plan Limits for 2009 Limitations for 2010
  1. Effective January 1, 2010, the limitation on the annual benefit under a defined benefit plan under Section 415(b)(1)(A) remains unchanged at $195,000.
  2. The limitation for defined contribution plans under Section 415(c)(1)(A) remains unchanged for 2010 at $49,000.
  3. The limitation under Section 402(g)(1) on the exclusion for elective deferrals described in Section 402(g)(3) remains unchanged at $16,500.
  4. The annual compensation limit under Sections 401(a)(17), 404(l), 408(k)(3)(C), and 408(k)(6)(D)(ii) remains unchanged at $245,000.
  5. The adjusted gross income limitation under Section 408A(c)(3)(C)(ii)(I) for determining the maximum Roth IRA contribution for married taxpayers filing a joint return or for taxpayers filing as a qualifying widow(er) is increased from $166,000 to $167,000. 
You can checkout IRS official release on Pension Limitations for 2009 2010
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