| 2013 DOLLAR AMOUNTS AND COLAS FOR BENEFIT PLANS AND TAXES |
| The IRS and Social Security Administration each year announce the cost-of-living adjustments affecting tax and employee benefits dollar amounts for the upcoming calendar year. Some of the highlights are listed below. For additional information, see the links at the end of this table. |
| Tax Benefit | 2012 | 2013 |
| Highly Compensated Employee (HCE) Threshold | $115,000 | $115,000 |
| Key Employee, Officer | $165,000 | $165,000 |
| Social Security Taxable Wage Base * | $110,100 | $113,700 |
| 401(k), 403(b), Profit-Sharing Plans: | | |
| Maximum Elective Deferrals (annually) | $17,000 | $17,500 |
| Catch-up Contributions (for those age 50 and older) | $5,500 | $5,500 |
| Annual Compensation | $250,000 | $255,000 |
| Annual Defined Contribution Limits | $50,000 | $51,000 |
| Individual Retirement Accounts (IRAs): | | |
| IRA Contribution Limit | $5,000 | $5,500 |
| IRA Catch-up Contributions (age 50 and older) | $1,000 | $1,000 |
| Health Savings Accounts (H.S.A.s): |
| Maximum Annual Contribution – Individual Coverage | $3,100 | $3,250 |
| Maximum Annual Contribution – Family Coverage | $6,250 | $6,450 |
| Catch-up Contribution – age 55 and over | $1,000 | same |
| High Deductible Health Plan (HDHP): |
| Minimum Annual Deductible – Individual Coverage | $1,200 | $1,250 |
| Minimum Annual Deductible – Family Coverage | $2,400 | $2,500 |
| Maximum Out-of-Pocket Expenses – Individual Coverage | $6,050 | $6,250 |
| Maximum Out-of-Pocket Expenses – Family Coverage | $12,100 | $12,500 |
| Dependent Care Assistance Plan (DCAP) Maximum Annual Pre-tax Contribution through 125 Plan | | |
| For a married couple filing a joint return or a single parent filing as “House of Household” | $5,000 | $5,000 |
| For a married couple filing separate returns | $2,500 | $2,500 |
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| * Through 12/31/12 OASDI rate for workers is 4.2% of amount but employers pay 6.2%. In 2013 an additional 0.9% tax applies to earned & self-employment income > $200,000 ($250,000 if married filing jointly) |
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| Social Security 2012 Fact Sheet: http://www.socialsecurity.gov/pressoffice/factsheets/colafacts2013.pdf |
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| http://www.irs.gov/Retirement-Plans/COLA-Increases-for-Dollar-Limitations-on-Benefits-and-Contributions | |
