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2003 IRS Allowances
Many of the limits found in retirement accounts are cost-of-living adjusted numbers. Some of the most widely applicable limits adjusted by the IRS for 2003 are:
|
401(k) and 403(b) Deferral Limit |
$12,000 |
|
401(k), 403(b), 457 Catch-up Contribution Limit |
$ 2,000 |
|
SIMPLE Deferral Limit |
$ 8,000 |
|
SIMPLE 401(k) and IRA Catch-up Limit |
$ 1,000 |
|
Annual Compensation Limit |
$200,000 |
|
Defined Contribution Annual Addition Limit |
$40,000 |
|
S.S. Wage Base(for Integrated Contributions) |
$87,000 |