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In the News: Strategy for Continued Growth and Contributing to the Economic and Philanthropic Development of the Community

  
  
  

The Newberry Group (St. Charles, MO)

Newberrys turn company over to employees discusses how The Newberry Group, Inc., a global IT consulting firm, has sold their company to an ESOP as part of a strategy for continued growth and accomplishment:

"We wanted to restructure the company in a way that will encourage continued growth and accomplishment, while also rewarding the team that has played and will play a vital role in (its) success," Brenda Newberry said.

The Newberry Group now 100 percent employee owned discusses how the strategy will promote "continued quality IT solutions and excellent customer service", and discusses the benefits to employees and society:

"It is my hope that The Newberry Group continues to grow even beyond its previous pace, creating opportunities for more people to become employee-owners and allowing all those involved to contribute in an exponential way to the economic and philanthropic development of this community," Newberry said.

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2012 IRS Pension Plan Limits

401(k) Deferral Limit - $17,000

Annual Additions Limit - $50,000

Maximum Compensation Limit - $250,000

Catch-Up Contribution Limit - $5,500

Highly Compensated Employee - $115,000

ESOP 5-Year Distribution Threshold - $1,015,000

ESOP Additional Year Threshold - $200,000

2012 Pension Plan Limits

1989 - 2012 Plan Limits