Some still refer to this as the $7,000 limit (its original setting in 1987). The 457 Deferral Limit is a similar restriction, applied to certain government plans (457 plans). The Annual Benefit Limit is the maximum annual benefit that can be paid to a participant (IRC section 415).0. Increasing by $500 each year in 2004-6; thereafter, COLA increase, if any, in $500 increments. The Elective Deferral Limit is the maximum contribution that can be made on a pre-tax basis to a 401(k) or 403(b) plan (Internal Revenue Code section 402(g)(1)).
exists and is an alternate of . The President will be paid $400,000 per year (annually), and has a $50,000 spending budget, gets use of a fleet of special secure Planes known as Air Force One only when he is aboard it, and has use of the Presidential retreat, Camp David, among other privileges.
The presidential salary had been $200,000 since 1969, but in 1999, Congress passed legislation doubling the salary to its current level before President George W. Bush took office. The presidentâs salary is subject to income tax.