403(b) and 457(b) Annual Contribution Limits in 2010
January 19, 2010 •
The pre-tax contribution limits to the 403(b) and 457(b) plans respectively remain at the 2009 level of $16,500. For participants age 50 and above, the pre-tax contribution limit for each plan is $22,000. Employees may contribute to one or both plans. Monthly deductions to these plans should typically total no more than 70% of gross income to ensure there is enough pay for other deductions such a medical insurance. For more information about these plans and to start or change contributions, visit the AYSO website.
Also, please note the Social Security tax rate and base remains unchanged from 2009 at 6.2 percent up to a base of $106,800. The Medicare tax rate remains at 1.45 percent with no limit to wages.
