Here are the 2012 contribution limits for the following retirement plans:
· 401(k) limits increase from $16,500 to $17,000. The same limit applies to 403(b) and 457 plans.
· IRA limits remain the same at $5,000
· SEP limits increase from $49,000 to $50,000
· SIMPLE limits remain the same at $11,500
· Catch-up contributions remain the same
o $5,500 for 401(k), 403(b) and 457 plans
o $2,500 for SIMPLEs
o $1,000 for IRAs
Here are the new limits for high deductible health plans:
· Health Savings Accounts
o Individual contribution limits increase from $3,050 to $3,100
o Family contribution limits increase from $6,150 to $6,250
· High Deductible Health Plans
o Minimum out-of-pocket limits remain the same at $1,200 and $2,400 for individuals and families, respectively
o Maximum out-of-pocket limits increase from $5,950 to $6,050 for individuals and from $11,900 to $12,100 for families
· Flexible Spending Accounts
o No federal limits for 2012 but your employer may designate a limit
o Federal limit of $2,500 beginning in 2013
