Table 1: Pension Plan Limits

2009

2008

Maximum annual benefit under a defined-benefit plan

$195,000

$185,000

Maximum annual contribution for defined-contribution plans

$49,000

$46,000

Annual compensation limit used for determining retirement plan contributions

$245,000

$230,000

Maximum annual contribution to 401(k), 403(b), and 457 plans

$16,500

$15,500

Catch-up contribution for individual age 50 or older

$5,500

$5,000

Maximum annual SIMPLE employee deferral

$11,500

$10,500

SEP minimum compensation

$550

$500

Income of key employee in top-heavy plan

$160,000

$150,000

Definition of highly compensated employee

$110,000

$105,000

Maximum annual IRA contribution

N/A

$5,000

Catch-up IRA contribution

N/A

$1,000

Table 2: Social Security Benefits

2009

2008

Maximum benefit for worker retiring at
full retirement age (FRA)

$2,323

$2,185

Maximum taxable earnings

$106,800

$102,000

Retirement earnings test exempt amounts if under
FRA. $1 in benefits withheld for every $2 in
earnings over the limit.

$14,160/year
$1,180/month

$13,560/year
$1,130/month

Retirement earnings test exempt amounts in year
individual reaches FRA (applies only in months
prior to attaining FRA). $1 in benefits withheld for
every $3 in earnings above the limit.

$37,680/year
$3,140/month

$36,120/year
$3,010/month

Table 3: 2008 Part B Premiums for High-Income Beneficiaries

MAGI range for beneficiaries
who file an individual
tax return

MAGI range for beneficiaries
who file a joint return

Part B premium

$82,000 or less

$164,000 or less

$96.40

$82,000-$102,000

$164,000-$204,000

$122.20

$102,000-$153,000

$204,000-$306,000

$160.90

$153,000-$205,000

$306,000-$410,000

$199.70

More than $205,000

More than $410,000

$238.40

Table 4: 2009 Part B Premiums for High-Income Beneficiaries

MAGI range for beneficiaries
who file an individual
tax return

MAGI range for beneficiaries
who file a joint return

Part B premium

$85,000 or less

$170,000 or less

$96.40

$85,000-$107,000

$170,000-$214,000

$134.90

$107,000-$160,000

$214,000-$320,000

$192.70

$160,000-$213,000

$320,000-$426,000

$250.50

More than $213,000

More than $426,000

$308.30