This week, the IRS announced the 2013 cost-of-living increases applicable to the dollar limits for retirement plans. Listed below are the principal limits applicable for 2013 as compared to those for 2012.

Limit	2013	2012
Compensation Limit	$255,000	$250,000
Elective Deferrals (401(k), 403(b), 457(b))	$17,500	$17,000
Catch-up Contributions	$5,500	$5,500
Defined Contribution Plan 415 Limit	$51,000	$50,000
Defined Benefit Plan 415 Limit	$205,000	$200,000
Highly Compensated Employee	$115,000	$115,000
Social Security Wage Base	$94,200	$90,000
SIMPLE Plan Limit	$12,000	$11,500
SIMPLE Catch-up Contributions	$2,500	$2,500

The IRS also announced the requirements for high deductible health plans (HDHPs). A participant in an HDHP may contribute to a health savings account (HSA). In 2013 for self-only coverage, the annual deductible may not be less than $2,150 or more than $3,200, and the maximum annual out-of-pocket expenses (other than premiums) may not exceed $4,300. For family coverage, the annual deductible may not be less than $4,300 or more than $6,450, and the maximum annual out-of-pocket expenses may not exceed $7,850.