Publication 571 |
2001 Tax Year |
Important Changes for 2001
Amounts previously excludable.
Amounts previously excludable for purposes of figuring your maximum exclusion allowance (MEA) does not include contributions to a defined benefit
plan. See chapter 3.
Increase in limit on annual additions.
For 2001, the limit on annual additions, is the lesser of $35,000, or 25% of your compensation. This is an increase from the lesser of $30,000, or
25% of your compensation. See chapter 4.
Increase in limit on contributions to 403(b) plan and 457 plan.
For 2001, the general limit on contributions in the same year to both a 403(b) plan and a 457 plan is the lesser of $8,500 or one-third of your
includible compensation. This is an increase from the lesser of $8,000 or one-third of your includible compensation. See chapter 8.
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