UPDATED LIMITS FOR RETIREMENT PLANS - 2004
| 2000 | 2001 | 2002 | 2003 | 2004 | |
|
401(k) Elective Deferral If over 50 |
$10,500 | $10,500 | $11,000 +$1,000 |
$12,000 +$2,000 |
$13,000 +$3,000 |
|
Simple If over 50 |
$6,000 | $6,500 | $7,000 +$500 |
$8,000 +$1,000 |
$9,000 +$1,500 |
| Defined Benefit Max. at 65 | $135,000 | $140,000 | $160,000 | $160,000 | $165,000 |
|
Defined Contribution Maximum Allocation If over 50 |
$30,000 | $35,000 | $40,000 +$1,000 |
$40,000 +$2,000 |
$41,000 +$3,000 |
| Highly Compensated Employee | $85,000 | $85,000 | $85,000 | $90,000 | $90,000 |
| Maximum Compensation for Pension Purposes | $170,000 | $170,000 | $200,000 | $200,000 | $205,000 |