Publication 571 - Tax-Sheltered Annuity Plans (403(B) Plans) Page 17
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21Worksheet 1. Maximum Amount Contributable (MAC)
Note. Use this worksheet to figure your MAC.
Part I. Limit on Annual Additions
1. Enter your includible compensation for your most recent year of service . . . . . . . . . . . . . . . . .
1.
2. Maximum
1
:
•
For 2011, enter $49,000
•
2.
For 2012, enter $50,000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3. Enter the lesser of line 1 or line 2. This is your limit on annual additions . . . . . . . . . . . . . . . . .
3.
Caution: If you had only nonelective contributions, skip Part II and enter the amount from line 3
on line 18.
Part II. Limit on Elective Deferrals
4. Maximum contribution:
•
For 2011, enter $16,500
•
4.
For 2012, enter $17,000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Note. If you have at least 15 years of service with a qualifying organization, complete lines 5
through 17. If not, enter zero (-0-) on line 16 and go to line 17.
5. Amount per year of service . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5.
$ 5,000
6. Enter your years of service . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6.
7. Multiply line 5 by line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7.
8. Enter the total of all elective deferrals made for you by the qualifying organization for prior
8.
years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9. Subtract line 8 from line 7. If zero or less, enter zero (-0-) . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.
10. Maximum increase in limit for long service . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10.
$15,000
11. Enter the total of additional pre-tax elective deferrals made in prior years under the 15-year rule
11.
12. Enter the aggregate amount of all designated Roth contributions permitted for prior years under
12.
the 15-year rule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
13. Add line 11 and line 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
13.
14. Subtract line 13 from line 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14.
15. Maximum additional contributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
15.
$ 3,000
16. Enter the least of lines 9, 14, or 15. This is your increase in the limit for long service . . . . . . . .
16.
17. Add lines 4 and 16. This is your limit on elective deferrals . . . . . . . . . . . . . . . . . . . . . . . . . . .
17.
Part III. Maximum Amount Contributable
18.
•
If you had only nonelective contributions, enter the amount from line 3. This is your MAC.
•
If you had only elective deferrals, enter the lesser of lines 3 or 17. This is your MAC.
•
If you had both elective deferrals and nonelective contributions, enter the amount from line
3. This is your MAC. (Use the amount on line 17 to determine if you have excess elective
18.
deferrals as explained in
chapter
7.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1
If you participate in a 403(b) plan and a qualified plan, you must combine contributions made to your 403(b) account with contributions to a
qualified plan and simplified employee pension plans of all corporations, partnerships, and sole proprietorships in which you have more than 50%
control. You must also combine the contributions made to all 403(b) accounts on your behalf by your employer.
Chapter 9 Worksheets
Page 17
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