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How Much Can You Contribute To Your Retirement Plan?

 

If you are not currently contributing to a retirement plan, ask us if a retirement contribution could reduce your income tax bill.

The Table Below Provides the Maximum amounts that can be contributed to retirement plans for 2009 and 2010.

        

Account Type

2009

2010

Traditional and Roth IRA’s

  Annual Contribution Amount

$  5,000

$  5,000

  Catch-Up Contribution1

$  1,000

$  1,000

401(k), 403(b), and SARSEP

  Annual Contribution Amount

$16,500

$16,500

  Catch-Up Contribution1

$  5,500

$  5,500

SIMPLE IRA

  Annual Contribution Amount

$11,500

$ 11,500

  Catch-Up Contribution1

$  2,500

$   2,500

 1 Catch-up Contributions for participants age 50 or older.

   Source:  Internal Revenue Service and Others

 

 

 

 

 

 

 
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