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.
Mr President & Co. As President of the United States, Barack Obama earns an annual base salary of $400,000 (about â¬290,135). This comes with a healthy onslaught of benefits however: a generous allowance of $150,000 (â¬109,350) for yearly expenses, a tax-free travel budget of $100,000 (â¬72,500) and an entertainment budget of $20,000 (â¬14,500).