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Annual Limits for Retirement Plans – 2009

2009-by-basibanget

IRA Contribution Limits
Traditional and Roth $5,000 plus $1,000 catch up provision if over age 50 during 2009

Traditional IRA income limits (for deductibility phase-out):
MFJ – $89,000 to $109,000
Single or HoH – $55,000 to $65,000
MFS – $0 to $10,000
Spouse not active participant in an employer-sponsored retirement plan (MFJ, Single or HoH): $166,000 to $176,000

Roth IRA income limits (for contribution phaseout):
MFJ – $166,000 to $176,000
Single or HoH – $105,000 to $120,000
MFS – $0 to $10,000
No Conversion allowed when AGI is at least $100,000

Simple IRA Deferral Limit:
$11,500, plus $2,500 catchup provision if over age 50 in 2009

401(k)/403(b)/457 Plans Deferral Limit:
$16,500 plus $5,500 catchup provision if over age 50 in 2009

2 Comments

  1. [...] are limited by an annual amount (for 2009 it’s $5,000 with an over age 50 “catch up” of $1,000).  This means [...]

  2. [...] of all of your contributions, whether to a TIRA or a RIRA, cannot exceed the annual limit (see here for the current year’s limit).  If you are age 50 or older, there is an additional “catch-up” contribution [...]

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