The IRS has announced the 2007 cost-of-living adjustments (COLAs) to dollar limitations on benefits and contributions, annual compensation limits, and other dollar limitations applicable to retirement plans.

IRS issues 2007 retirement plan limits

The IRS has announced the 2007 cost-of-living adjustments (COLAs) to dollar limitations on benefits and contributions, annual compensation limits, and other dollar limitations applicable to retirement plans.

 Highlights of the 2007 maximum dollar limitations announced by the IRS include the following: 

• Annual defined benefit limit: $180,000 

• Annual defined contribution limit: $45,000 

• Annual compensation limit: $225,000 

• 401(k) elective deferral limit: $15,500 

• Highly compensated employee limit: $100,000. 

The full text of IRS New Release is available at

http://www.irs.gov/retirement/article/0,,id=96461,00.html

For more information on how start a 401k plan contact StaffScapes at 303-466-7864

See Also

• IRS Retirement Article
  IRS issues 2007 retirement plan limits

Small business employees trail in retirement savings and preparedness, survey shows

Small business employees are at a disadvantage when it comes to retirement savings, according to the results from the Eighth Annual Transamerica Retirement Survey.

StaffScapes, Inc. a Denver based PEO or Professional Employer Organization helps small businesses owners by providing them with all the tools to provide a 401k retirement program to their employees. By partnering with Transamerica StaffScapes has been able to allow small business owners the opportunity to have a full 401k program that they could not otherwise afford.  StaffScapes handles all the enrollment and fiduciary liability for its clients. Instead of worrying about the operation of a 401k plan the owner is better able to run his or her business.

For more information on 401k plans and employee benefit program contact StaffScapes, Inc.

See Also

• Eighth Annual Transamerica Retirement Survey
  Transamerica Survey Results

My old employer is no longer in business. How do I go about locating or finding that pension plan?

If you have a old pension plan and can not find your old employer contact the Pension Benefit Guaranty Corporation to begin finding your retirement money. Include your name, address, phone number, date of birth and social security number. You will also need to know about your old employer and have information available. Items needed to identify that employer is, name, location, Federal ID number, and plan number. Search your records for any plan documents and plan numbers to better locate the plan. Contact:

The Pension Benefit Guaranty Corporation

Missing Participant Program

1200 k Street N.W.

Washington, DC 20005-4026

1-800-326-LOST

See Also

• Pension Benefit Guaranty Coporation
  PBGC Home