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ESOP Advocacy and The ESOP Promotion and Improvement Act of 2007 (S. 1322)

  
  
  

Last week we discussed an Update on Section 3701 of the Rangel Tax Proposal. The latest Employee Ownership Blog post suggests that now is the time to discuss The ESOP Promotion and Improvement Act of 2007 (S. 1322) with your Senators:

"Now is the time to contact your Senators and talk to them about this legislation. In light of the legislation introduced by Representative Charles Rangel, now is the time to reach out to your member of Congress. Contact their office and ask to arrange a visit to your company. If you can't arrange a visit to your company, make an appointment to go see them, or send a letter from the employee owners telling him/her why the ESOP is so important to your company and employee owners and what they can do to keep these jobs in their community."

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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