BY: CATHERINE M. MARRIOTT
The Commissioner of the Internal Revenue has adjusted the dollar limitations for benefits and contributions that apply to retirement plans. The Social Security Administration has also adjusted the Social Security earnings limit. The change in the 2012 limits was triggered by an increase in the cost-of-living index. The following chart shows the 2012 limits and the expiring limits for 2011.
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For more information about this topic, please contact the author or any member of the Williams Mullen Employee Benefits & Executive CompensationTeam.
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