Indexed Contribution & Benefit Limits for Qualified Retirement Plans |
| |
Type of Plan |
2009 |
| Individual Retirement Accounts contribution limit - All IRAs* |
$5,000 |
Section 401(k) plan or SAR-SEP*
|
$16,500 |
| Section 403(b) plan |
$16,500 |
| Section 408(p)(2)(A) SIMPLE contribution* |
$11,500 |
| Section 457(b)(2) limit |
$16,500 |
| Section 415 limit for: |
| Defined contribution plans |
$49,000 |
| Defined benefit plans |
$195,000 |
| Highly compensated employees Section 414(q) |
$110,000 |
| FICA taxable wage base Social security (tax rate 6.20% for employees; 12.40% for self-employed) |
$106,800
|
| Medicare (tax rate 1.45% for employees; 2.90% for self-employed) |
No limit |
Age 50 additional contributions |
| Type of Plan |
2009 |
| 401(k) type plans |
$5,500 |
| SIMPLE plans |
$2,500 |
| IRAs |
$1,000 |
|
|
|
