Monday, December 22, 2008

2009 Retirement Plan Contributions

Now is the time to start planning your retirement contributions for 2009. Here are the contribution limits for 2009. 

Remember you are able to make contributions to your Traditional and Roth IRA's for 2008 up to April 15th, 2009.

CONTRIBUTIONS LIMITS 2009

401(k): $16,500
     age 50 or older: $22,000

SIMPLE IRA: $11,500
age 5o or older: $14,000

SEP: Up to 25% of compensation, maximum contribution of $49,000.

Traditional IRA: $5,000
    age 50 or older: $6,000

Roth IRA: $5,000
age 50 or older: $6,000


Consult with your accountant for more information.
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