SIMPLE Deferral limits for 2008
Has anyone seen anything estimating the 2008 salary deferal limits and catch up limits for SIMPLE plans? I have not been able to find it anywhere. I think the Rev-Proc announcing the actuals is generally issued in November each year.
Thank you for your help!
Permalink Submitted by Alan Spross on Thu, 2007-09-27 03:06
These have not been announced yet. The incremental limit to apply for inflation adjustment is $500, but you would have to know where the calculation ended prior to rounding for 2007 in order to project 2008, even if you knew the inflation factor.
CCH will probably be the first out with estimates, which are typically highly accurate, but still projections until the IRS makes their release.
Permalink Submitted by Bill E. Brown on Thu, 2007-09-27 14:08
Thanks Alan, That’s what I concluded, but wondered if anyone had seen a projection for 2008.