|
|
 
Fred S. Shapiro & Associates, Inc. creatively
designs and administers qualified retirement plans. We strive to effectively
and efficiently meet the objectives of our clients through creative
design, based on the individual company and its demographics.
We specialize in understanding the various technicalities of the recent
legislation imposed by the Internal Revenue Service. This allows us
to provide our clients with initial, as well as, updated advice in
order to maintain compliance with these laws.
In addition, we provide technical seminars for accountants,
financial planners, investment advisors and life underwriters
on topics indicative to the retirement field.
NEW PLAN FIGURES SET FOR YEAR 2007 - Several key figures that affect retirement
plans and plan administration in 2007 have been updated and are listed below:
| |
2007 |
2006 |
| Taxable Wage Base |
$97,500 |
$94,200 |
| Limit on Annual Compensation |
$225,000 |
$220,000 |
| Limit on Elective 401(k) Deferrals |
$15,500 |
$15,000 |
| Limit on Catch-Up Contributions (50
& Older) |
$5,000 |
$5,000 |
| Highly Compensated Employee on the Basis of Income |
$100,000 |
$100,000 |
| Defined Benefit Plan IRC 415 Limit on Benefits |
$180,000 |
$175,000 |
| Defined Contribution Plan IRC 415 Dollar Limit |
$45,000 |
$44,000 |
Year 2007 Social Security
The Social Security Taxable Wage Base has increased to
$97,500 from $94,200.
|
