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Accounting, Payroll & Pension Issues/pension salary cap
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Question
What is the salary cap for pension contributions for 2006?
Here are the limits for 2006 for Qualified Plans:
401k: $15,000, deferred
SIMPLE plans: 10,000, deferred
Maximum comp for limits, $220,000
Annual benefit for defined benefit plans, $175,000
All this and more is at www.irs.gov or www.plansponsor.com
Good luck
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Accounting, Payroll & Pension Issues
Answers by Expert:
Ed McFarland
Expertise
Over 20 years of experience as a CFO, Controller and now Consultant to small businesses. Dealt with 401k, 403b, deferred comp plans, key man issues, disablity, business continuation plans, HSA plans and other benefit issues.
Experience
Management experience in Financial Services, Manufacturing, Media, Logistics. Taught graduate and undergraduate business courses.
Education/Credentials
MBA
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