2013 Retirement Plan Limits

Check out Lockton Retirement Services’ report on 2013 retirement plan limits : 10 19 12 Retirement Limits

Highlights of the notice include:

  • The elective deferral or contribution limit for employees who participate in 401(k), 403(b), most 457 plans and the federal government’s Thrift Savings Plan is increased from $17,000 to $17,500,
  • The §415 limitation for defined contribution plans is increased in 2013 from $50,000 to $51,000,
  • The maximum compensation limit is increased from $250,000 to $255,000,
  • The dollar limitation concerning the definition of a key employee in a top-heavy plan did not increase and will remain at $165,000,
  • The limitation used in the definition of highly compensated employee did not increase and will remain at $115,000,
  • The catch-up contribution limit for those aged 50 and over remains unchanged at $5,500.
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About thebenefitblog

Eric is a Producer at Lockton Insurance Brokers, Inc., the world’s largest privately held commercial broker. Eric has over 23 years of experience in the insurance industry and has spent the last 11 years with Lockton. Eric specializes in Health & Welfare Benefits, Retirement Planning, and Executive Benefits. Eric's clients utilize his expertise in the areas of Plan Due Diligence, Transaction Structure, Fiduciary Oversight, Investment Design, Compliance and Vendor negotiation to improve the operational & financial outcome for each client. The Benefit Blog is a place to share that expertise and industry news.
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