IRS Announces Employee Benefit Plan Limits for 2012

RETIREMENT PLAN LIMITS

2012

2011

Annual compensation limit

$250,000

$245,000

401(k), 403(b) & 457(b) before-tax contributions

$17,000

$16,500

Catch-up contributions (if age 50 or older)

$5,500

$5,500

Highly compensated employee threshold

$115,000

$110,000

Key employee officer compensation threshold

$165,000

$160,000

Defined benefit plan annual benefit and accrual limit

$200,000

$195,000

Defined contribution plan annual contribution limit

$50,000

$49,000

ESOP limit for determining the lengthening of the general five-year distribution period

$200,000

$195,000

ESOP limit for determining the maximum account balance subject to the general five-year distribution period

$1,015,000

$985,000

HEALTH AND WELFARE PLAN LIMITS

Qualified Transportation Fringe Benefits

Monthly limit for qualified parking

$240

$230

Monthly limit for transportation in a commuter highway vehicle or transit pass

$125

$230^**

Adoption Assistance Programs

Excludible amount

$12,650

$13,360^**

Phase-out modified adjusted gross income thresholds

Phase-out begins

$189,710

$185,210

Phase-out complete

$229,710

$225,210

HDHP and HSA

HDHP—Maximum annual out-of-pocket limit (excluding premiums)

Self-only coverage

$6,050

$5,950

Family coverage

$12,100

$11,900

HDHP—Minimum annual deductible

Self-only coverage

$1,200

$1,200

Family coverage

$2,400

$2,400

HSA—Annual contribution limit

Self-only coverage

$3,100

$3,050

Family coverage

$6,250

$6,150

Catch-up contributions (age 55 or older)

$1,000

$1,000