Beckham County, Oklahoma. Beckham County is a county located on the western border of the U.S. state of Oklahoma. As of the 2010 census, the population was 22,119. Its county seat is Sayre.
Implementing and funding a Cash Balance Plan could substantially increase tax-deductible contributions resulting in significant tax savings to business owners. Under a 401(k) profit sharing plan, the 2013 maximum deductible contribution for an individual is $51,000 (or $56,500 for individuals over the age of 50). However, when a Cash Balance Plan is combined with a 401(k) plan, the deductible contribution for an individual can exceed the 401(k) plan maximum by a sizeable amount.
Whether you're behind on your contributions or just wanting to put aside a little more each year, if you're 55 or older, your 401(k) plan contribution limits increase. Knowing how the limits increase and how your plan may differ can help you maximize your annual contributions.imitation on Elective Deferrals. The maximum amount you can defer into your 401(k) plan adjusts each year for inflation. As of 2012, the standard limit is $17,000. However, for people age 50 and older, the contribution limit increases by $5,500 because of what is known as a catch-up contribution.