Retirement Plan Limitations Unchanged

The IRS has determined the 2011 cost-of-living adjustments for retirement plans. Generally, the limits remain unchanged from 2010. The contribution (elective deferral) limit for employees who participate in Section 401(k), 403(b), or 457(b) plans and the federal government's Thrift Savings Plan remains unchanged from 2010 at $16,500 in 2011. For those age 50 or older at year-end, the catch-up contribution limit under these plans also remains unchanged at $5,500. The limitation for SIMPLE plans is unchanged at $11,500 in 2011, as is the catch-up contribution for those aged 50 or older at year-end at $2,500.