Thursday, November 20, 2008

2009 Retirement Plan Contribution Limits

Here's a quick chart that shows retirement plan contribution limits for 2009, it should be useful, provided our new president does not change things substantially:

Age 49 and less:

IRA $5,000
401k/403b/457 plans $16,500
Simple IRA $11,500
SEP IRA $49,000 (but no more than 25% of income)

Age 50 or more:

IRA $6,000
401k $22,000
Simple IRA $14,000

Roth IRA eligibility phases out at $105-$120k for singles and $166-$176k for marrieds

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