Minimum wages, Social Security wage limits, Pension Plan limits – going up in 2012!

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Nov 072011
 

Several states have announced increases to their minimum wages effective January 1, 2012.  These include:

  • Oregon – $8.80
  • Washington – $9.04

The Social Security Administration has announced that the Social Security wage limit for 2012 has increased to $110,100

The IRS has released Pension Plan limitations for 2012:

  • The 401k limit has increased from $16,500 to $17,000
  • The 403b limit has increased from $16,500 to $17,000
  • The 457 limit has increased from $16,500 to $17,000
  • The SIMPLE limit (408p) remains unchanged at $11,500
  • The Catch Up limit for those age 50 and over remains unchanged at $5,500
 Posted by at 16:20