The major pension plan and related amounts will stay the same for 2011. This means, for example, that the following amounts will remain unchanged from their 2010 amount: (1) benefit limit for defined benefit plans ($195,000); (2) defined contribution plan limit ($49,000); (3) compensation limit for determining benefits and contributions ($245,000); (4) definition of a highly compensated employee ($110,000); (5) elective deferral limit ($16,500); (6) SEP contribution threshold ($550); and (7) SIMPLE retirement account limit ($11,500). Furthermore, the dollar limitations for catch-up contributions will stay the same—$5,500 for Section 401(k) , 403(b) , and 457(b) plans, and $2,500 for SIMPLE plans. [IRS News Release IR-2010-108 (October 28, 2010)]
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