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IRS Announces 2007 Pension Contribution Limits

Paul Caron

Irs_logo_311 The IRS today announced (IR-2006-1620) the 2007 pension contribution limits:

  • 401(k)/403(b) Elective Deferral Limit (402(g)(1)): $15,500
  • Government/Tax Exempts Deferral Limit (457(e)(15)):  $15,500
  • Catch-up Contribution Limit:  $5,000
  • Annual Compensation Limit:  $225,000
  • Highly Compensated Employee Limit:  $100,000
  • Key Employee Officer Compensation:  $145,000
  • Maximum Annual Benefit: Defined Benefit Plan: $180,000
  • Maximum Annual Contribution: Defined Contribution Plan:  $45,000
  • SEP Minimum Compensation:  $500
  • SEP Compensation Limit:  $225,000
  • SIMPLE Employee Contribution Limit:  $10,500
  • SIMPLE "Catch-Up" Deferral Limit:  $2,500
  • Social Security Wage Base: $97,500

About the Author

Paul Caron Avatar
Paul Caron
Paul Caron was named Duane and Kelly Roberts Dean of Pepperdine University School of Law on June 1, 2017. Dean Caron joined the Pepperdine faculty in 2013 after serving as the Dorothy and Leonard Straus Distinguished Visiting Professor of Law in the spring semesters of 2010 through 2013. He served as Associate Dean for Research and Faculty Development at Pepperdine in 2015-2017. Before coming to Pepperdine, he was Associate Dean of Faculty and Charles Hartsock Professor of Law at the University of Cincinnati College of Law.
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