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Retirement Planning
| Qualified Plans |
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|
2000
|
2001
|
| Maximum elective deferral to retirement plans, e.g., 401(k), 403(b) |
$10,500
|
$10,500
|
| Maximum elective deferral to SIMPLE 401(k) plans |
$6,000
|
$6,500
|
| Maximum elective deferral to 457 plans of tax-exempt employers |
$8,000
|
$8,500
|
| Limit on annual additions to SEP plans |
$25,500
|
$25,500
|
| Annual compensation threshold requiring SEP contribution |
$450
|
$450
|
| Limit on annual additions to defined contribution plans |
$30,000
|
$35,000
|
| Maximum annual compensation taken into account for contributions |
$170,000
|
$170,000
|
| Annual benefit limit under defined benefit plans |
$135,000
|
$140,000
|
| Threshold amount used in definition of highly compensated employee |
$85,000
|
$85,000
|
| PBGC monthly guaranteed pension amount at age 65 (single life) |
$3,221.59
|
$3,392.05
|
| IRAs |
| Contribution limits: IRAs (incl'g Roth) - $2,000 per year; Education IRAs - $500 per beneficiary per year |
|
|
2000 |
2001 |
| Phase-Out Range for Deductible Contributions to Regular IRAs |
Married Filing Jointly |
$52,000-62,000 |
$53,000-63,000 |
| Single |
$32,000-42,000 |
$33,000-43,000 |
| Phase-Out Range for Contributions to Roth and Education IRAs |
Married Filing Jointly |
$150,000-160,000 |
$150,000-160,000 |
| Single |
$95,000-110,000 |
$95,000-110,000 |
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