Located at:

38 Fraley Street

Kane, PA 16735

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Fax (814) 837-2267

Phone( (814) 837-9150
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Annual Retirement Plan Limits
   
Description

2013

2012

2011

2010


Compensations
$  255,000
$  250,000
$  245,000
$  245,000
         
"Highly compensated" definition 115,000 115,000 110,000 110,000
         
"Key employee" definition        
  Owner 165,000 165,000 160,000 160,000
  1% owner 150,000 150,000 150,000 150,000
         
Limits on benefits and contributions:        
  Defined contribution plans 51,000 50,000 49,000 49,000
  Defined benefits plans 205,000 200,000 195,000 195,000
  401(k), 403(b) and 457 plan elective
  deferrals		 17,500 17,000 16,500 16,500
  SIMPLE plan elective deferrals 12,000 11,500 11,500 11,500
  IRA 5,500 5,000 5,000 5,000
         
Catch-up contributions:        
  401(k), 403(b) and 457 plans 5,500 5,500 5,500 5,500
  SIMPLE plans 2,500 2,500 2,500 2,500
  IRA 1,000 1,000 1,000 1,000
         
Social Security:        
  Taxable wage base 113,700 110,100 106,800 106,800
Medicare:        
  Taxable wage base unlimited unlimited unlimited unlimited