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Helpful Tax Information
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2011 Standard Deductions

Single
$5,800
Married Filing Joint/Surviving Spouse
$11,600
Head of Household
$8,500
Married Filing Separately
$5,800
Additional Aged/Blind – Married
$1,150
Additional Aged/Blind – Unmarried
$1,450
Taxpayer Claimed as Dependent
$950

Personal Exemption

The personal exemption amount in 2011 is $3,700.


2011 Social Security Changes

Maximum Taxable Earnings

Social Security Wage Base (OASDI)
$106,800
Medicare Portion (HI)
No Limit


Social Security Tax Rates

Tax Rate
Employee Rate
Employee/Employer
7.65%*
Self Employed
15.30%

*The combined rate for Social Security (OASDI 6.2%) and Medicare (HI 1.45%)


At A Glance: Key Numbers For 2011

Plan Contribution Limits
2011
Defined Benefit Limit
$195,000
Defined Contribution Limit
$49,000**
Maximum Compensation Limits
$245,000
Section 401(k) Plan
$16,500
Section 403(b) Plan
$16,500
Catch Up Provision 401(k) and 403(b)
$5,500
Section 457(b)(2) Limit
$16,500***
Section 457(b)(2) Catch Up Provision
$5,500
Highly Compensated Employee Definitional Limits
$110,000
SIMPLE IRAs and SIMPLE 401(k) Plans
$11,500
SIMPLE Plan Catch Up Provision
$2,500
Traditional IRA and Roth IRA
$5,000
Traditional IRA and Roth IRA Catch Up
$1,000
** Annual additions to an employee’s account, which are defined as the total of employer contributions, and forfeitures, are limited to the lesser of the dollar amount indicated or 100% compensation. This limit must be coordinated with a rule applicable to profit-sharing plans, SEPs, and stock bonus plans that limit contributions to 25% of compensation. This lower limitation does not apply to employee elective contributions or forfeitures, so annual additions may exceed 25% of compensation as long as employer contributions meet the 25% limit.

*** Existing salary reduction SEPs (SARSEPs) are also covered by this limit.

Qualified Long Term Care Premiums
2011 Maximum
Age 40 or less
$340
More than 40 but not more than 50
$640
More than 50 but not more than 60
$1,270
More than 60 but not more than 70
$3,390
More than 70
$4,240


The information provided is not written or intended as tax or legal advice and may not be relied on for purposes of avoiding any Federal tax penalties. MassMutual, its employees and representatives are not authorized to give tax or legal advice. Individuals are encouraged to seek advice from their own tax or legal counsel. Individuals involved in the estate planning process should work with an estate planning team, including their own personal legal or tax counsel.

Insurance products issued by Massachusetts Mutual Life Insurance Company (MassMutual), 1295 State Street, Springfield, MA 01111-0001 and its subsidiaries C.M. Life Insurance Company and MML Bay State Life Insurance Company, 100 Bright Meadow Boulevard, Enfield, CT 06082.


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