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Sharing Financial Information

  
  
  

We recently discussed teaching business literacy in In the News: Using Analogies to Teach Business Literacy. We also discussed how 17 of the 18 Winning Workplaces' fourth annual Best Bosses practice open-book management and are teaching employees how to read and understand financial documents. The latest Employee Ownership Blog post asks
Does Your Company Share Financial Information with Employee Owners?:

“Obviously handing a packet of financial information to a person will not help increase his or her interest level nor will it make him or her a more motivated worker. If he of she is like most people, they probably won’t have any idea as to what they are looking at. If a company is planning on sharing financial information with employee owners, it’s very important to provide the information in the proper context. Teaching employee owners the basics is the first step and then making sure there is an open forum to ask questions would be another.”

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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