The Internal Revenue Service (IRS) recently announced the annual Cost-of-Living Adjustments (COLA) for retirement plans and related limitations for the 2013 tax year. Several of the following limits have changed for 2013 compared to the 2012 limits. Item 2013 2012 Maximum Compensation $255,000 $250,000 Social Security Taxable Wage Base $113,700 $110,100 Elective Deferrals $17,500 $17,000 Catch Up Contributions $5,500 $5,500 415 limits (maximum in a defined contribution plan) $51,000 $50,000 Annual limit for defined benefit plan $205,000 $200,000 Key Employee compensation limit $165,000 $165,000 Highly Compensated Employee compensation $115,000 $115,000 For questions regarding these pension plan limit changes, please contact GSA at 1.800.250.2741 ext. 170 or via email at solutions@gsanational.com.