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.
But what do America's top earners have on the US president? Not much. The president is paid $400,000 a year, on a monthly basis. Plus, he receives an extra expense allowance of $50,000 a year. That number has evolved over time. The first president, George Washington, earned $25,000 a year when he came into office in 1789. That may not sound like much, but to put Washington's compensation into perspective, $25,000 in 1913 â the oldest year the inflation calculator accounts for â is equivalent to about $600,000 today.