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ARTICLE · 31 OCTOBER 2011

Recent Developments In Employee Benefits And Executive Compensation - October 2011

Blank Rome LLP
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The IRS has announced COLA adjustments for employee benefit plan limits for 2012. This is the first time since 2009 that the COLA process has resulted in increased limits over the previous year.

United StatesEmployment and HR
Barry Klein
Barry Klein
Wilhelm Gruszecki
Wilhelm Gruszecki
Kari Knight Stevens
Kari Knight Stevens

IRS Announces Cost of Living Adjustments for 2012 Plan Limits

The IRS has announced COLA adjustments for employee benefit plan limits for 2012. This is the first time since 2009 that the COLA process has resulted in increased limits over the previous year. Among the new limits are:

  • The elective deferral limit is raised from $16,500 to $17,000.
  • The 401(a)(17) compensation limit is raised from $245,000 to $250,000.
  • The limit on aggregate contributions to defined contribution plans is raised from $49,000 to $50,000.
  • The limit on amounts payable from defined benefit plans is raised from $195,000 to $200,000.
  • The social security taxable wage base is raised from $106,800 to $110,000.

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