Retirement Plan Administration Updates for 2010
The 2010 limit for tax-deferred contributions to a registered pension plan is $22,450, which is equivalent to an income of $124,722.22. Persons below this limit will continue to be restricted to 18% of earnings.
Click here for a table showing the 2010 limits for various retirement plan types.
Click here for the 2010 limits for the Canada/Quebec Pension Plans and Old Age Security.
Sponsors of retirement plans will have to update their administration practices to accommodate these new limits.